Bank of America Reinstates Stillwater Mining Company to Buy

Brokerage firm Bank of America Reinstates its rating on Stillwater Mining Company(NYSE:SWC). The shares have been rated Buy. The rating by Bank of America was issued on Jun 9, 2016.

Stillwater Mining Company (SWC) made into the market gainers list on Wednesdays trading session with the shares advancing 4.68% or 0.48 points. Due to strong positive momentum, the stock ended at $10.74, which is also near the day’s high of $10.89. The stock began the session at $10.41 and the volume stood at 13,10,083 shares. The 52-week high of the shares is $13.33 and the 52 week low is $4.99. The company has a current market capitalization of $1,300 M and it has 12,10,73,388 shares in outstanding.

Stillwater Mining Company(SWC) last announced its earnings results on May 6, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $133.64M. Analysts had an estimated revenue of $148.96M. Earnings per share were $-0.08. Analysts had estimated an EPS of $-0.05.

Stillwater Mining Company is engaged in the development extraction processing smelting and refining of palladium platinum and associated metals (platinum group metals or PGMs) produced by mining a geological formation in south-central Montana the J-M Reef and recycling spent catalytic converters and other industrial sources. The Company is also engaged in expanding its mining operations on the J-M Reef and holds the Marathon PGM-copper property adjacent to Lake Superior in northern Ontario Canada and the Altar copper-gold property in the province of San Juan Argentina. It operates five reportable business segments: Mine Production PGM Recycling Canadian Properties South American Properties and All Other. It conducts mining operations at its Stillwater Mine near Nye Montana and at its East Boulder Mine south of Big Timber Montana.

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