Principal Financial Group Inc. raised its stake in shares of Stillwater Mining Co. (NYSE:SWC) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 868,312 shares of the mining company’s stock after buying an additional 22,625 shares during the period. Principal Financial Group Inc. owned approximately 0.72% of Stillwater Mining worth $10,298,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Aperio Group LLC increased its stake in shares of 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 in the last quarter. First Midwest Bank Trust Division increased its stake in shares of 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 in the last quarter. Oxford Asset Management purchased a new stake in shares of Stillwater Mining during the second quarter worth approximately $362,000. Capstone Asset Management Co. increased its stake in shares of 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 in the last quarter. Finally, AMP Capital Investors Ltd purchased a new stake in shares of Stillwater Mining during the first quarter worth approximately $508,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.
Shares of Stillwater Mining Co. (NYSE:SWC) opened at 11.81 on Friday. Stillwater Mining Co. has a 12-month low of $4.99 and a 12-month high of $15.91. The firm’s market capitalization is $1.43 billion. The company’s 50-day moving average price is $12.50 and its 200-day moving average price is $12.02.
Stillwater Mining (NYSE:SWC) last issued its quarterly earnings results on Friday, July 29th. The mining company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 1.83% and a negative net margin of 2.59%. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) earnings per share. Analysts anticipate that Stillwater Mining Co. will post $0.02 EPS for the current year.
A number of analysts have commented on SWC shares. FBR & Co raised their price objective on Stillwater Mining from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. BMO Capital Markets set a $17.00 price objective on Stillwater Mining and gave the stock a “buy” rating in a research report on Monday, August 1st. Royal Bank Of Canada raised their target price on Stillwater Mining from $11.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, August 1st. Zacks Investment Research upgraded Stillwater Mining from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Thursday, July 7th. Finally, RBC Capital Markets restated a “sector perform” rating and set a $16.00 target price (up previously from $11.00) on shares of Stillwater Mining in a research report on Monday, August 1st. One equities research 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 stock currently has an average rating of “Hold” and an average price target 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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