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Stillwater Mining Company

6/19/2013, 7:51 AM ET

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Friday, June 7, 4:30 PM Stillwater Mining (SWC) announces the retirement of CEO Frank McAllister; Terrell Ackerman, a vice president, will serve as interim CEO. McAllister recently lost a fight for control of the company which saw Brian Schweitzer take over as chairman. Shares +1.8% AH. 2 Comments [Commodities, On the Move]
Monday, May 20, 10:20 AM Stillwater Mining (SWC +1.2%) says Brian Schweitzer, the former governor of Montana, is elected chairman, replacing CEO Frank McAllister, who will continue to lead SWC until it finds a replacement. Schweitzer is one of four Clinton Group nominees voted onto the board on May 2. Comment! [Commodities]
Thursday, May 16, 9:59 AM T. Boone Pickens added nearly 125K shares in Apache (APA) and more than 500K shares in Goodrich Petroleum (GDP) to his energy fund during Q1. He bought new stakes in MPC, PSX and HK, and sold positions in SWC, RRC and RIG. The fund’s top holding Pioneer Natural Resources (PXD); Pickens added ~43K shares. 1 Comment [Energy]
Thursday, May 2, 5:50 PM Stillwater Mining's (SWC) shareholder vote to decide control of its board is a split decision, as former Montana Gov. Brian Schweitzer and three other members of Clinton's Group dissident slate were elected, but so were CEO Frank McAllister and three other current board members. The outcome is "the worst governance you could imagine," McAllister had said. Comment! [Commodities]
Thursday, May 2, 9:48 AM Clinton Group is warning of possible vote and meeting manipulation by Stillwater Mining (SWC -0.6%) at today's annual meeting. SWC says its latest offer to resolve a proxy fight with Clinton, a 1.3% shareholder that has criticized SWC and is trying to oust the entire board, was rebuffed. Proxy firms ISS and Glass Lewis have recommended shareholders vote for various Clinton nominees. 1 Comment [Commodities]
Monday, April 22, 10:18 AM Glass Lewis is the second proxy adviser in recent days to back a change in leadership at Stillwater Mining (SWC), saying the 2011 purchase of Argentina's Altar copper reserves "backfired," chasing away investors who had been attracted to the company's focus on platinum and palladium. But both firms stop short of calling to entirely replace the SWC board (earlier). Comment! [Commodities]
Friday, April 19, 2:21 PM Proxy advisory firm ISS recommends Stillwater Mining (SWC +1.8%) shareholders support sweeping change in the composition of SWC's board. ISS says "the significant underperformance over three- and five-year periods is striking evidence that all is not well" at SWC and that the dissident Clinton Group has "demonstrated a compelling case that change at the board level is warranted." Comment! [Commodities, On the Move]
Monday, April 15, 5:47 PM After-hours top gainers, as of 5:15 p.m.: CNW +6%. SPR +6%. SWC +5%. RES +4.5%. RBC +4.4%.
After-hours top losers: SRPT -12%. CLI -7%. HCA -5%. EGOV -4.0%. KDN -3.2%. Comment! [On the Move]
Wednesday, April 10, 3:12 PM Stillwater Mining (SWC +0.8%) discloses it is revoking company stock awarded to CEO Frank McAllister worth $2.3M at the current trading price, in the wake of a lawsuit challenging the compensation as excessive. Clinton Group, seeking to oust SWC's board, says it is "astonishing" that the board is "unable to oversee the company in a manner consistent with [its] own corporate documents." Comment! [Commodities]
Wednesday, April 3, 6:16 PM Conservationists line up in support of Stillwater Mining's (SWC) board in its struggle for control of the company, citing concerns that a longstanding environmental agreement could suffer if a takeover by a slate of dissident directors nominated by The Clinton Group succeeds. Clinton appears to "want to go in for the quick extraction and get out," a SWC supporter says. Comment! [Energy]
Friday, March 22, 3:29 PM Stillwater Mining (SWC) CEO Francis McAllister says development of the Altar copper deposit in Argentina is on the backburner nearly two years after he was criticized for overpaying for buying the hard-to-reach assets. "Would we do it again? No," but he says it was the right decision at the right time, and still could prove vital if precious metals prices fall. Comment! [Commodities, Global & FX]
Wednesday, February 27, 8:02 AM Stillwater Mining (SWC): Q4 EPS of $0.13 beats by $0.06. Revenue of $203.4M misses by $14.27M. (PR) Comment! [Earnings, Breaking News]
Wednesday, February 27, 12:05 AM Notable earnings before Wednesday’s open: AES, AFAM, AH, ARCC, CBB, CNP, DLTR, FIG, GLOG, ITT, JOY, NRG, PDCE, STWD, SWC, TGT, TJX, VPHM Comment! [Earnings]
Tuesday, February 26, 5:30 PM Notable earnings before Wednesday’s open: AES, AFAM, AH, ARCC, CBB, CNP, DLTR, FIG, GLOG, ITT, JOY, NRG, PDCE, STWD, SWC, TGT, TJX, VPHM Comment! [Earnings]
Tuesday, February 5, 11:34 AM Stillwater Mining (SWC +3.8%) is upgraded to Overweight from Neutral with a $19 price target (from $14) at J.P. Morgan on improving palladium fundamentals as Russian supplies fall and demand for diesel autocatalysts rises. With Europe likely to move to new emission standards by 2014, the firm expects manufacturers to switch to a more cost effective mix that would lift palladium demand. Comment! [Commodities, Quick Ideas, On the Move]
Tuesday, January 15, 8:59 AM Stillwater Mining (SWC) +1.8% premarket after reporting its mined production of palladium and platinum for Q4 was 132.5K oz. and for full-year 2012 totaled 513.7K oz., exceeding SWC's 2012 guidance of 500K oz. Total cash costs per mined oz. are expected at or slightly below 2012 guidance of $500; 2013 cash costs are seen averaging ~$560/oz. Comment! [Commodities, On the Move]