Zacks Investment Research cut shares of Stillwater Mining Co. (NYSE:SWC) from a buy rating to a hold rating in a report released on Tuesday morning.
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. “
A number of other research analysts also recently weighed in on SWC. FBR & Co increased their price target on Stillwater Mining from $13.00 to $17.00 and gave the company an outperform rating in a research note on Wednesday, July 20th. Royal Bank Of Canada increased their price target on Stillwater Mining from $11.00 to $16.00 and gave the company a sector perform rating in a research note on Monday, August 1st. BMO Capital Markets set a $17.00 price target on Stillwater Mining and gave the company a buy rating in a research note on Monday, August 1st. Finally, RBC Capital Markets reissued a sector perform rating and issued a $16.00 price target (up previously from $11.00) on shares of Stillwater Mining 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 given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $14.73.
Stillwater Mining (NYSE:SWC) opened at 11.56 on Tuesday. Stillwater Mining has a 12-month low of $4.99 and a 12-month high of $15.91. The stock has a 50 day moving average price of $12.63 and a 200-day moving average price of $12.02. The stock’s market capitalization is $1.40 billion.
Stillwater Mining (NYSE:SWC) last posted its quarterly earnings results on Friday, July 29th. The mining company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $165.68 million for the quarter, compared to the consensus estimate of $157.35 million. Stillwater Mining had a negative return on equity of 1.83% and a negative net margin of 2.59%. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.23) EPS. Equities research analysts expect that Stillwater Mining will post $0.02 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in SWC. Tower Research Capital LLC TRC boosted its position in Stillwater Mining by 310.9% in the second quarter. Tower Research Capital LLC TRC now owns 13,538 shares of the mining company’s stock worth $160,000 after buying an additional 10,243 shares during the period. Coronation Fund Managers Ltd. purchased a new position in Stillwater Mining during the second quarter worth about $171,000. PineBridge Investments L.P. boosted its position in Stillwater Mining by 3.8% in the second quarter. PineBridge Investments L.P. now owns 15,354 shares of the mining company’s stock worth $182,000 after buying an additional 564 shares during the period. First Allied Advisory Services Inc. purchased a new position in Stillwater Mining during the second quarter worth about $186,000. Finally, HRT Financial LLC purchased a new position in Stillwater Mining during the second quarter worth about $195,000. 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.