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Dec. 11, 2014, 2:55 PM
- Stillwater Mining (SWC +1.5%) is initiated with a Buy rating and $17 price target at BofA, which notes that SWC is the only U.S.-based producer of platinum group metals.
- BofA's Buy rating is based on growing palladium demand, constrained supply and rising palladium prices; SWC's target of reducing all-in sustaining cash costs by $100/oz. from $833/oz., as every $10/oz. drop in all-in sustaining costs equals ~$4.5M in free cash flow; and the company's favorable jurisdictional risk, as peers are located in South Africa and Russia.
Nov. 14, 2014, 8:28 AM
Nov. 5, 2014, 8:07 AM| Comment!
Sep. 2, 2014, 5:26 PM
- Stillwater Mining (NYSE:SWC) fell 4.5% today after saying it will scale back activities associated with the Marathon PGM-copper project.
- The permitting process for the project has been suspended previously, with limited exploration activities continuing for the current field season and continuation depending on positive results, SWC says.
- SWC's 2014 capex for the Marathon PGM-copper project are now seen at $4M-$6M vs. previous guidance for $5M-$10M; going forward, SWC expects project costs of $1M-$3M/year, depending on the level of exploration activity.
Jul. 31, 2014, 8:06 AM| Comment!
Jul. 17, 2014, 4:46 PM| 3 Comments
Jul. 2, 2014, 2:55 PM
- Stillwater Mining (SWC +2.9%) marches higher after a BB&T research note calls the company an attractive takeover target, citing a favorable cash position, geopolitical footprint and improving cost curve.
- To support this, the firm says management is confident it will reach its cost-cutting goal of $100/oz. within 18 months.
Jun. 12, 2014, 9:15 AM
Jun. 11, 2014, 8:35 AM
- Stillwater Mining (SWC) wants to develop new U.S. palladium and platinum mines in the longer term, but won't accelerate plans in response to soaring prices for the metals, President/CEO Mick McMullen says.
- SWC will focus on increasing processing of recycled palladium and platinum by deploying unused capacity, allowing it to cash in on higher prices, as well as reducing costs, to maximize returns to shareholders, McMullen says.
- Since hitting a 2014 low of just less than $700/oz. in February, palladium reached a three-year high yesterday of $852.25/oz.; platinum also has been climbing, with both driven up by a prolonged mining strike in South Africa.
May 16, 2014, 10:57 AM
- Stillwater Mining (SWC +2.3%) says it agreed to a five-year contract for platinum group metal refining and sales with Johnson Matthey (JMPLY).
- The catalytic converter manufacturer will purchase all of SWC's mined palladium and a significant share of mined platinum, with SWC utilizing Johnson Matthey's refining services for all mined production and recycling material.
- SWC says the deal secures favorable long-term pricing for its mined metal and competitive refining terms with an excellent partner to help grow its recycling business.
May 1, 2014, 8:02 AM| Comment!
Apr. 17, 2014, 4:58 PM
- Stillwater Mining (SWC) reports Q1 production of palladium and platinum from the company's Montana mine operations totaled 130.7K oz., a 2.8% increase Y/Y.
- East Boulder Mine production rose 18.8%, driven by slightly higher realized ore grades and higher tons mined; Stillwater Mine output fell 3%, reflecting lower ore tons mined and increased allocation of resources to development activities.
- The volume of precious metals recycled fell 34% due to temporary, weather-related issues.
- Shares +0.3% AH.
SWC vs. ETF Alternatives
Stillwater Mining Co develops, extracts, processes, refines and markets palladium, platinum and associated metals from a geological formation in south-central Montana known as the J-M Reef and from the recycling of spent catalytic converters.
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