Zacks Investment Research Lowers Stillwater Mining Co. (SWC) to Hold
Stillwater Mining Co. (NYSE:SWC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report 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. “
A number of other research firms have also recently commented on SWC. RBC Capital Markets restated 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. FBR & Co boosted their price target 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 boosted their price target on shares of Stillwater Mining from $11.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, August 1st. Finally, BMO Capital Markets set a $17.00 price target on shares of Stillwater Mining and gave the stock a “buy” 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 assigned a buy rating to the company’s stock. Stillwater Mining currently has a consensus rating of “Hold” and a consensus price target of $14.73.
Stillwater Mining (NYSE:SWC) traded down 1.42% during mid-day trading on Tuesday, reaching $11.80. 457,817 shares of the company were exchanged. Stillwater Mining has a 1-year low of $4.99 and a 1-year high of $15.91. The company’s market capitalization is $1.43 billion. 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 released its earnings results on Friday, July 29th. The mining company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The business earned $165.68 million during the quarter, compared to analysts’ expectations of $157.35 million. Stillwater Mining had a negative net margin of 2.59% and a negative return on equity of 1.83%. The company’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.23) earnings per share. On average, equities research analysts forecast that Stillwater Mining will post $0.02 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. GMT Capital Corp bought a new stake in Stillwater Mining during the second quarter worth about $45,587,000. Orbis Allan Gray Ltd acquired a new stake in shares of Stillwater Mining during the first quarter valued at $21,358,000. Dimensional Fund Advisors LP increased its stake in shares of 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 during the last quarter. State Street Corp increased its stake in shares of 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 during the last quarter. Finally, Capital Research Global Investors increased its stake in shares of 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 during the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.