Stillwater Mining Company (NYSE:SWC) Rated as a “Hold” in the Market

by Sean Patterson | Monday, Mar 17, 2014 | 877 views

Boston, MA, 03/17/2014 – Stillwater Mining Company (NYSE:SWC) an extraction processing smelting company commands an average rating of “Hold” in the market with an average share price target of $14.35 according to majority of equity research firms. Analysts’ at Ned Davis Research recently upgraded the stock to a “neutral” to a “sell”.

Analysts at Zacks downgraded the company stock to an “outperform” with a price target of $13.70. Stillwater shares are currently rated as a hold by three research equity firms with two others issuing a buy rating.

Stillwater reports a net loss of $270M

Stillwater Mining Company (NYSE:SWC) last reported its earnings in March 3 in which earnings per share came in at $0.63 falling short of consensus estimates by $0.07 of $0.70.  The company’s net loss for the year surged to a high of $270 million as a result of writing down two foreign properties as a way of trying to focus more on precious metals.

Revenue for the fourth quarter came in at $242.36 million lower compared to consensus estimates of $255.57 million. The company’s revenue was up by 19.2% on a year over year basis. Cash and cash equivalent as of the end of the year came in at $500 million with the company expecting to ramp up a $26 million capital spending. Most of the money will be used for development of mines near Nye and East Boulder.

The fourth quarter saw Stillwater Mining Company (NYSE:SWC) reduce its Marathon, Ontario property value by $171 million to a low of $57 million. Full year revenue clocked at a record high of $1.04 billion which was a 29.9% compared to net revenues of $800.2 million. Impairment charges for the year came in at $461.8 million mostly taken on the altar property in Argentina and properties in Canada.

Stillwater Mining Company (NYSE:SWC) was up by 4.05% on Friday trading session closing the week at a high of $15.69.

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