Stillwater Mining Co. (SWC) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS
Stillwater Mining Co. (NYSE:SWC) released its earnings results on Friday. The mining company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.08. The firm had revenue of $196.61 million for the quarter, compared to the consensus estimate of $175 million. Stillwater Mining had a negative return on equity of 1.83% and a negative net margin of 2.59%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS.
Shares of Stillwater Mining (NYSE:SWC) traded up 4.99% during midday trading on Friday, hitting $13.67. The company had a trading volume of 817,310 shares. The company has a 50-day moving average of $12.44 and a 200 day moving average of $12.16. The firm’s market capitalization is $1.66 billion. Stillwater Mining has a 12 month low of $4.99 and a 12 month high of $15.91.
Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of 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 last quarter. Coronation Fund Managers Ltd. bought a new position in shares of Stillwater Mining during the second quarter worth approximately $171,000. PineBridge Investments L.P. increased its position in shares of 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 last quarter. First Allied Advisory Services Inc. bought a new position in shares of Stillwater Mining during the second quarter worth approximately $186,000. Finally, HRT Financial LLC bought a new position in shares of Stillwater Mining during the second quarter worth approximately $195,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.
Several equities analysts have commented on the company. FBR & Co upped their price objective on 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 objective on Stillwater Mining and gave the company a “buy” rating in a research report on Monday, August 1st. Royal Bank Of Canada upped their price objective on Stillwater Mining from $11.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, August 1st. Zacks Investment Research raised Stillwater Mining from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Thursday, September 8th. Finally, RBC Capital Markets reaffirmed 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.73.
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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