Stillwater Mining Co. (SWC) Downgraded by Zacks Investment Research
According to Zacks, “Stillwater Mining Company is engaged in the exploration, development, mining and production of platinum, palladium and associated metals from the Stillwater Complex in southern Montana, which the company believes is the only significant primary source of platinum and palladium outside the Republic of South Africa. The Stillwater Complex includes an extensive mineralized zone containing platinum group metals known as the J-M Reef The Stillwater Complex has been prospected for gold, copper, nickel and chromium. “
Several other research firms have also recently weighed in on SWC. RBC Capital Markets reiterated a sector perform rating and set a $16.00 price objective (up from $11.00) on shares of Stillwater Mining in a research report on Monday, August 1st. FBR & Co increased their price objective on shares of Stillwater Mining from $17.00 to $19.00 and gave the stock an outperform rating in a research report on Monday, August 1st. Royal Bank Of Canada increased their target price on shares of Stillwater Mining from $11.00 to $16.00 and gave the stock a sector perform rating in a research note on Monday, August 1st. Finally, BMO Capital Markets set a $17.00 target price on shares of Stillwater Mining and gave the stock a buy rating in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $14.73.
Stillwater Mining (NYSE:SWC) opened at 11.51 on Tuesday. The firm’s market capitalization is $1.39 billion. The stock’s 50 day moving average is $12.55 and its 200 day moving average is $12.01. Stillwater Mining has a 1-year low of $4.99 and a 1-year high of $15.91.
Stillwater Mining (NYSE:SWC) last posted its quarterly earnings data on Friday, July 29th. The mining company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Stillwater Mining had a negative net margin of 2.59% and a negative return on equity of 1.83%. The company earned $165.68 million during the quarter, compared to analysts’ expectations of $157.35 million. During the same period in the prior year, the company posted ($0.23) earnings per share. Stillwater Mining’s revenue for the quarter was down 10.6% compared to the same quarter last year. Analysts predict that Stillwater Mining will post $0.02 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Stillwater Mining by 2.4% in the second quarter. Vanguard Group Inc. now owns 9,806,251 shares of the mining company’s stock worth $116,302,000 after buying an additional 228,653 shares during the period. Franklin Resources Inc. raised its position in Stillwater Mining by 1.4% in the second quarter. Franklin Resources Inc. now owns 7,793,301 shares of the mining company’s stock worth $92,429,000 after buying an additional 110,279 shares during the period. Dimensional Fund Advisors LP raised its position in Stillwater Mining by 32.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,708,565 shares of the mining company’s stock worth $79,559,000 after buying an additional 1,633,353 shares during the period. Capital Research Global Investors raised its position in Stillwater Mining by 8.8% in the second quarter. Capital Research Global Investors now owns 6,380,000 shares of the mining company’s stock worth $75,667,000 after buying an additional 515,000 shares during the period. Finally, State Street Corp raised its position in Stillwater Mining by 16.6% in the second quarter. State Street Corp now owns 5,087,028 shares of the mining company’s stock worth $60,332,000 after buying an additional 723,291 shares during the period. 93.17% of the stock is currently owned by hedge funds and other institutional investors.
About Stillwater Mining
Stillwater Mining Company is engaged in the development, extraction, processing, smelting and refining of palladium, platinum and associated metals, such as platinum group metals (PGM) produced by mining a geological formation in south-central Montana, the J-M Reef and recycling spent catalytic converters and other industrial sources.
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