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Investing in palladium stocks

It’s rare and in high demand, but electric vehicles could pose a serious threat.

Shannon Terrell

Updated

Feb 11, 2021

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This high-value metal is tricky to source and in high demand — especially from car manufacturers. But with a history of volatility and the electric vehicle market booming, there’s no guarantee it will continue to hold its value.

What is palladium?

Palladium is a bright, silver-white metal primarily mined in Russia and South Africa. It’s typically produced as a byproduct of mining other materials, like nickel and platinum. It is one of the six platinum-group metals, a group that includes iridium, osmium, platinum, rhodium and ruthenium.
We’re most likely to encounter palladium when driving a vehicle, as nearly 85% of mined palladium finds itself in the exhaust systems of cars. It’s a vital component of the catalytic converters responsible for transforming toxic pollutants into carbon dioxide, nitrogen and water vapor. Palladium is also used in dentistry, electronics, medicine and jewelry manufacturing.
Palladium stocks are stocks from companies that produce palladium — mining companies, mostly. Unfortunately, there are few pure-play palladium stocks, as this metal is typically produced as the mining byproduct of other materials, like platinum.

Why invest in palladium stocks?

Palladium is 30 times rarer than gold and as demand for this material continues to rise, so do its prices.
The cost of palladium has been on the rise since 2016, hitting an astonishing high of $2,714 per ounce in February 2020. For comparison, gold was trading at $1,575.95 per ounce at that time.
Why is palladium on the rise? In short: demand. Anytime the demand for a commodity outpaces its supply, the price of that commodity rises. And palladium supplies have been unable to meet global demand since 2012.
And the good news for investors is that the demand for this metal looks like it will continue its upward trajectory. With our heavy reliance on palladium in catalytic converters and rising global pressure to ditch high-emission vehicles, car markers need more palladium than ever. And since the metal isn’t easily replaced, palladium demand is high.
The bottom line? Palladium is valuable, and trends in global demand for this metal are poised to drive its value higher still.

Risks of investing in palladium

Despite palladium’s rising price tag, this commodity hasn’t always been such a hot commodity. In fact, the metal has a history of volatility and is only valuable so long as it’s needed.
While car manufacturers have yet to find a palladium workaround, a replacement isn’t exactly out of the question. And with palladium being so rare and cumbersome to produce, it’s quite possible that an alternative could be found — especially given the failure of palladium miners to meet increasing global demand.
Another threat to consider is the rising popularity of electric vehicles. The electric vehicle market is growing — fast. And this could act as a significant market disruptor for palladium since electric vehicles don’t require catalytic converters.

Palladium stocks

There are few pure-play palladium stocks, as most of the palladium that’s manufactured is produced as a byproduct of other metals. So if you plan to invest in this commodity, prepare to back mining companies that produce other materials too, like platinum. See how the following stocks are performing, and view details like market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield.

Company summary
Canadian Palladium Resources Inc., a natural resource company, engages in the acquisition and exploration of resource properties in North America and Europe. It holds 100% interest in the East Bull Palladium Property that comprise 992 hectares located in the Gerow Township, Ontario, Canada. The company was formerly known as 21C Metals Inc. and changed its name to Canadian Palladium Resources Inc. in January 2020. Canadian Palladium Resources Inc. was incorporated in 2005 and is headquartered in Vancouver, Canada.
Historical performance
Stock information
- Market capitalization: $5802680
- Dividend yield: 0%
Company summary
Eastern Platinum Limited, together with its subsidiaries, engages in the mining, exploration, and development of platinum group metal (PGM) and chrome properties in South Africa. Its PGM deposits include platinum, palladium, rhodium, osmium, iridium, and ruthenium. The company principally holds 100% interest in the Crocodile River Mine located on the western limb and the Kennedy's Vale project on the eastern limb of Bushveld Complex (BCX); and the Mareesburg project situated on the eastern limb of the BCX. It also holds 97.7% interest in the Spitzkop project located on the eastern limb of the BCX. Eastern Platinum Limited was founded in 2003 and is headquartered in Vancouver, Canada.
Historical performance
Stock information
- Market capitalization: $16152079
- P/E ratio: 8
- PEG ratio: 0
- Dividend yield: 0%
Company summary
Grid Metals Corp. engages in the exploring and developing base and precious metal mineral properties in Canada. It explores for nickel, copper, cobalt, lithium, and platinum group metals. The company primarily focuses on the East Bull Lake Palladium property that consists of unpatented mining claims located in Ontario. Its properties also include the Makwa Mayville Ni-Cu-PGM-Co property located to northeast of Winnipeg, Manitoba; Donner Lake Lithium property located in southeastern Manitoba; and the Campus Creek Lithium property located in northwestern Ontario. The company was formerly known as Mustang Minerals Corp. and changed its name to Grid Metals Corp. in June 2018. The company was incorporated in 1997 and is headquartered in Toronto, Canada.
Historical performance
Stock information
- Market capitalization: $14942641
- Dividend yield: 0%
Company summary
Impala Platinum Holdings Limited engages in the mining, processing, concentrating, refining, and sale of platinum group metals (PGMs) and associated base metals. The company produces platinum, palladium, rhodium, nickel, and by-products. It has operations on the PGM-bearing orebodies, including the Bushveld Complex located in South Africa; and the Great Dyke situated in Zimbabwe, as well as the Canadian Shield. The company markets and sells its products in South Africa, Japan, China, the United States, and Europe. Impala Platinum Holdings Limited is based in Sandton, South Africa.
Historical performance
Stock information
- Market capitalization: $168024481430
- P/E ratio: 17.3239
- Dividend yield: 0.034%
Company summary
Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals located primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt. It also holds a 100% interest in the Western Foreland exploration project covering an area of approximately 2,407 square kilometers located in the Democratic Republic of Congo. The company was formerly known as Ivanplats Limited and changed its name to Ivanhoe Mines Ltd. in August 2013. Ivanhoe Mines Ltd. was incorporated in 1993 and is based in Vancouver, Canada.
Historical performance
Stock information
- Market capitalization: $10509540352
- P/E ratio: 40.7619
- PEG ratio: 0
- Dividend yield: 0%
Company summary
New Age Metals Inc., a mineral exploration company, engages in the acquisition, exploration, and development of platinum group metals (PGMs), and precious and base metal properties in Canada. The company explores for rhodium, palladium, platinum, gold, nickel, copper, and lithium deposits. It holds interests in the River Valley PGE project located in the Dana and Pardo townships of Northern Ontario; the Genesis PGE project located in south central Alaska; and lithium projects situated to the northeast of Winnipeg, Manitoba. New Age Metals Inc. was incorporated in 1996 and is headquartered in Vancouver, Canada.
Historical performance
Stock information
- Market capitalization: $7788123
- Dividend yield: 0%
Company summary
Palladium One Mining Inc. explores for and develops mineral resource properties. The company primarily explores for palladium, platinum group elements, gold, copper, cobalt, and nickel. Its flagship property comprises a 100% interest in the Lantinen Koillismaa project located in north-central Finland. Palladium One Mining Inc. is headquartered in Toronto, Canada.
Historical performance
Stock information
- Market capitalization: $28657520
- Dividend yield: 0%
Company summary
Platinum Group Metals Ltd. engages in the exploration and development of platinum and palladium properties. It explores for palladium, platinum, gold, copper, nickel, and rhodium deposits. The company holds 50.02% interest in the Waterberg project located on the Northern Limb of the Western Bushveld complex, South Africa. It also develops next-generation battery technology using platinum and palladium. Platinum Group Metals Ltd. was incorporated in 2000 and is headquartered in Vancouver, Canada.
Historical performance
Stock information
- Market capitalization: $155603920
- PEG ratio: 0
- Dividend yield: 0%
Company summary
Sibanye Stillwater Limited, together with its subsidiaries, operates as a precious metals mining company in South Africa, the United States, Europe, and Australia. The company produces gold; platinum group metals (PGMs), including palladium, platinum, rhodium, iridium, and ruthenium; chrome; nickel; and silver, cobalt, and copper. It owns the East Boulder and Stillwater mines located in Montana, the United States; and Columbus metallurgical complex, which smelts the material mined to produce PGM-rich filter cake, as well as conducts PGM recycling activities. The company also involved in the Kroondal, Rustenburg, Marikana, and Platinum Mile operations situated in South Africa; Mimosa located on the southern portion in Zimbabwe; the Driefontein, Kloof, Rand Refinery, and Cooke surface operations located on the West Rand of the Witwatersrand Basin; and the Beatrix situated in the southern Free State. In addition, it owns an interest in surface tailings retreatment facilities; the Marathon PGM project in Ontario, Canada; the Altar and Rio Grande copper gold projects in the Andes in north-west Argentina; the Hoedspruit; and the Burnstone and southern Free State gold projects in South Africa. Sibanye Stillwater Limited was founded in 2013 and is headquartered in Weltevreden Park, South Africa.
Historical performance
Stock information
- Market capitalization: $4347803648
- P/E ratio: 5.8252
- Dividend yield: 0.0888%
Get more detailed information and learn how to buy SBSW.US stock
Company summary
Sienna Resources Inc. engages in the identification, acquisition, and exploration of mineral properties in Canada, Finland, Norway, and the United States. It primarily explores for platinum, palladium, and lithium deposits. The company also holds an option to acquire a 100% interest in the Elko lithium project that covers an area of 1200 contiguous acres in Elko County, Nevada. The company was formerly known as Habanero Resources Inc. and changed its name to Sienna Resources Inc. in January 2014. Sienna Resources Inc. was incorporated in 1983 and is headquartered in Vancouver, Canada.
Historical performance
Stock information
- Market capitalization: $13819726
- Dividend yield: 0%

What ETFs track the palladium category?

Of the three ETFs that contain palladium exposure, the Aberdeen Standard Physical Palladium Shares ETF (PALL) is the closest to a pure-play, as it tracks the performance of palladium with over 130,000 ounces stored in a secured JPMorgan Chase & Co vault in London.

Aberdeen Standard Physical Palladium Shares ETF (PALL)
Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR)
Sprott Physical Platinum and Palladium Trust (SPPP)

Palladium performance

This graph shows the spot price per ounce of palladium.

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Bottom line

Palladium plays an important role in the automotive industry as a key component of catalytic converters. But its value could be at risk if a substitute metal were found to take its place.
Before you purchase palladium, review your trading platform options to find the brokerage account that can help you meet your investment goals.

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Shannon Terrell

Shannon Terrell is a lead writer and spokesperson at NerdWallet and a former editor at Finder, specializing in personal finance. Her writing and analysis on investing and banking has been featured in Bloomberg, Global News, Yahoo Finance, GoBankingRates and Black Enterprise. She holds a bachelor’s degree in communications and English literature from the University of Toronto Mississauga.

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Investing in palladium stocks

It’s rare and in high demand, but electric vehicles could pose a serious threat.

What is palladium?

Why invest in palladium stocks?

Risks of investing in palladium

Palladium stocks

Canadian Palladium Resources (BULL.CN)

Eastern Platinum (ELR.TO)

Grid Metals (MSMGF.US)

Impala Platinum (IMP.JSE)

Ivanhoe Mines (IVPAF.US)

New Age Metals (NMTLF.US)

Palladium One Mining (PDM.V)

Platinum Group Metals (PTM.TO)

Sibanye Gold Ltd ADR (SBSW.US)

Sienna Resources (SIE.V)

What ETFs track the palladium category?

Palladium performance

Compare trading platforms

Bottom line

Frequently asked questions

Do palladium stocks pay dividends?

Can I purchase penny stocks in the palladium industry?

Shannon Terrell

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