Palladium prices reached an eleven-month high as potential sanctions against Russia, who provides approximately 40.0 percent of the global supply, has raised supply concerns. Palladium prices touched $779.50 per ounce, which was the highest seen since the beginning of April 2013."If sanctions are pursued this [price move] would likely be a sustainable gain and prices are likely to trend toward the $1,000 mark," said Gautam Batra, an investment strategist at Signia Wealth.
GMK Noril'skiy nikel' OAO (OTCMKTS: NILSY) shares traded in the range of $16.81 to $16.96 Wednesday before settling to close at $16.82, an increase of 1.69 percent. The stock appears to be facing some resistance at $16.95 with some support at the $16.79 and $16.58 levels. Shares of GMK have gained approximately 1.0 percent year-to-date.
More information on GMK and access to the free equity report can be found at:
www.WallStreetFundamentals.com/NILSY
North American Palladium Ltd. (NYSEMKT: PAL)(TSX: PDL) shares traded in the range of $0.46 to $0.56 Wednesday before settling to close at $0.472, a decrease of 7.45 percent. The stock appears to be facing some resistance at the $0.48 and $0.56 levels with some support at $0.40 and $0.34. Shares of North American Palladium have fallen approximately 27.0 percent year-to-date.
More information on North American Palladium and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PAL
Platinum Group Metals Limited (NYSEMKT: PLG) shares traded in the range of $1.15 to $1.23 Wednesday before settling to close at $1.23, an increase of 6.96 percent. The stock appears to be facing some resistance at the $1.24and $1.26 levels with some support at $1.22 and $1.20. Shares of Platinum Group Metals have gained approximately 5.0 percent year-to-date.
More information on Platinum Group Metals and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PLG
Stillwater Mining Company (NYSE: SWC) shares traded in the range of $13.97 to $14.40 Wednesday before settling to close at $14.32, an increase of 3.99 percent. The stock appears to have some support at the $13.83, $13.73 and $13.03 levels. Shares of Stillwater Mining have gained approximately 16.0 percent year-to-date.
More information on Stillwater Mining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SWC
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