Stillwater Mining Co. (NYSE:SWC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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 research analysts have also recently issued reports about the stock. FBR & Co lifted their price target on shares of Stillwater Mining from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday, August 1st. BMO Capital Markets set a $17.00 price target on shares of Stillwater Mining and gave the company a “buy” rating in a research report on Monday, August 1st. Royal Bank Of Canada lifted their price target on shares of Stillwater Mining from $11.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, August 1st. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $16.00 price target (up from $11.00) on shares of Stillwater Mining in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Stillwater Mining presently has a consensus rating of “Hold” and an average price target of $14.73.
Shares of Stillwater Mining (NYSE:SWC) traded down 1.42% during midday trading on Tuesday, hitting $11.80. 457,817 shares of the company’s stock were exchanged. The stock’s market cap is $1.43 billion. The stock’s 50 day moving average is $12.69 and its 200-day moving average is $12.02. Stillwater Mining has a 1-year low of $4.99 and a 1-year high of $15.91.
Stillwater Mining (NYSE:SWC) last released its earnings results on Friday, July 29th. The mining company reported $0.01 earnings per share (EPS) 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 business had revenue of $165.68 million for the quarter, compared to analysts’ expectations of $157.35 million. During the same period last year, the company earned ($0.23) earnings per share. The company’s quarterly revenue was down 10.6% on a year-over-year basis. Analysts predict that Stillwater Mining will post $0.02 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of SWC. Tower Research Capital LLC TRC raised its stake 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 in the last quarter. Coronation Fund Managers Ltd. purchased a new stake in Stillwater Mining during the second quarter worth about $171,000. Amalgamated Bank raised its stake in Stillwater Mining by 12.8% in the second quarter. Amalgamated Bank now owns 14,538 shares of the mining company’s stock worth $221,000 after buying an additional 1,650 shares in the last quarter. PineBridge Investments L.P. raised its stake 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 in the last quarter. Finally, First Allied Advisory Services Inc. purchased a new stake in Stillwater Mining during the second quarter worth about $186,000. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Stillwater Mining Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stillwater Mining Co. and related companies with MarketBeat.com's FREE daily email newsletter.