First Trust Advisors LP decreased its position in shares of Stillwater Mining Co. (NYSE:SWC) by 49.4% during the second quarter, Holdings Channel reports. The institutional investor owned 23,704 shares of the mining company’s stock after selling 23,185 shares during the period. First Trust Advisors LP’s holdings in Stillwater Mining were worth $281,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aperio Group LLC raised its stake in Stillwater Mining by 5.3% in the first quarter. Aperio Group LLC now owns 25,355 shares of the mining company’s stock worth $270,000 after buying an additional 1,270 shares during the period. First Midwest Bank Trust Division raised its stake in Stillwater Mining by 46.9% in the second quarter. First Midwest Bank Trust Division now owns 25,823 shares of the mining company’s stock worth $306,000 after buying an additional 8,239 shares during the period. Capstone Asset Management Co. raised its stake in Stillwater Mining by 1.1% in the second quarter. Capstone Asset Management Co. now owns 34,252 shares of the mining company’s stock worth $406,000 after buying an additional 380 shares during the period. AMP Capital Investors Ltd acquired a new stake in Stillwater Mining during the first quarter worth about $508,000. Finally, BNP Paribas Arbitrage SA raised its stake in Stillwater Mining by 77.8% in the second quarter. BNP Paribas Arbitrage SA now owns 47,948 shares of the mining company’s stock worth $569,000 after buying an additional 20,978 shares during the period. 93.17% of the stock is currently owned by institutional investors and hedge funds.
Stillwater Mining Co. (NYSE:SWC) traded up 2.61% during trading on Friday, hitting $11.81. The company had a trading volume of 1,708,071 shares. The stock has a 50-day moving average of $12.50 and a 200 day moving average of $12.02. The company’s market capitalization is $1.43 billion. Stillwater Mining Co. has a one year low of $4.99 and a one 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 consensus estimate of ($0.01) by $0.02. Stillwater Mining had a negative return on equity of 1.83% and a negative net margin of 2.59%. The business had revenue of $165.68 million for the quarter, compared to analyst estimates of $157.35 million. During the same quarter in the prior year, the company posted ($0.23) earnings per share. Stillwater Mining’s revenue was down 10.6% on a year-over-year basis. Equities analysts forecast that Stillwater Mining Co. will post $0.02 EPS for the current fiscal year.
A number of research firms have issued reports on SWC. Zacks Investment Research raised Stillwater Mining from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Thursday, September 8th. RBC Capital Markets reissued a “sector perform” rating and set a $16.00 price objective (up previously from $11.00) on shares of Stillwater Mining in a report on Monday, August 1st. FBR & Co lifted their price objective on Stillwater Mining from $13.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, July 20th. Royal Bank Of Canada lifted their price objective on Stillwater Mining from $11.00 to $16.00 and gave the stock a “sector perform” rating in a report on Monday, August 1st. Finally, BMO Capital Markets set a $17.00 price objective on Stillwater Mining and gave the stock a “buy” rating in a report on Monday, August 1st. One 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 company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $14.73.
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.
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