Stillwater Mining Company (SWC) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 14,408,745 to 14,304,444 shares, with 9 days to go before the expiry. The short open interest has decreased by -0.7%, amounting to a reduction of -104,301 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 11.9% of the float of the company. The average daily volume of the stock is 1,661,019 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Stillwater Mining Company (NYSE:SWC): The stock opened at $13.08 on Wednesday but the bulls could not build on the opening and the stock topped out at $13.09 for the day. The stock traded down to $12.63 during the day, due to lack of any buying support eventually closed down at $12.64 with a loss of -4.46% for the day. The stock had closed at $13.23 on the previous day. The total traded volume was 2,417,259 shares.
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.