Stillwater Mining Co. (SWC) Downgraded by Zacks Investment Research
Stillwater Mining Co. (NYSE:SWC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
Other equities analysts have also issued reports about the company. BMO Capital Markets set a $17.00 price target on Stillwater Mining and gave the stock a “buy” rating in a report on Monday, August 1st. FBR & Co increased their price objective on Stillwater Mining from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, August 1st. RBC Capital Markets reiterated a “sector perform” rating and issued a $16.00 price objective (up previously from $11.00) on shares of Stillwater Mining in a research report on Monday, August 1st. Finally, Royal Bank Of Canada increased their price objective on Stillwater Mining from $11.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Stillwater Mining presently has an average rating of “Hold” and an average price target of $14.73.
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Shares of Stillwater Mining (NYSE:SWC) traded down 1.75% during midday trading on Tuesday, reaching $11.76. The company had a trading volume of 514,697 shares. The company’s market capitalization is $1.42 billion. Stillwater Mining has a one year low of $4.99 and a one year high of $15.91. The company has a 50 day moving average of $12.69 and a 200 day moving average of $12.02.
Stillwater Mining (NYSE:SWC) last posted its quarterly earnings results on Friday, July 29th. The mining company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. Stillwater Mining had a negative return on equity of 1.83% and a negative net margin of 2.59%. The firm earned $165.68 million during the quarter, compared to analyst estimates of $157.35 million. During the same period last year, the company earned ($0.23) earnings per share. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. Analysts predict that Stillwater Mining will post $0.02 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GMT Capital Corp bought a new position in Stillwater Mining during the second quarter valued at approximately $45,587,000. Orbis Allan Gray Ltd bought a new position in Stillwater Mining during the first quarter valued at approximately $21,358,000. Dimensional Fund Advisors LP increased 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 valued at $79,559,000 after buying an additional 1,633,353 shares in the last quarter. State Street Corp increased its position in Stillwater Mining by 22.6% in the first quarter. State Street Corp now owns 4,363,737 shares of the mining company’s stock valued at $46,474,000 after buying an additional 805,843 shares in the last quarter. Finally, Capital Research Global Investors increased 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 valued at $75,667,000 after buying an additional 515,000 shares in the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.
Stillwater Mining Company Profile
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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