Contrarius Investment Management Ltd buys $80 Million stake in Stillwater Mining Company (SWC)

Stillwater Mining Company (SWC) : Contrarius Investment Management Ltd scooped up 1,943,871 additional shares in Stillwater Mining Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 8,010,223 shares of Stillwater Mining Company which is valued at $80 Million.Stillwater Mining Company makes up approximately 6.90% of Contrarius Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Amalgamated Bank boosted its stake in SWC in the latest quarter, The investment management firm added 1,223 additional shares and now holds a total of 12,888 shares of Stillwater Mining Company which is valued at $128,751. Stillwater Mining Company makes up approx 0.01% of Amalgamated Bank’s portfolio. Timber Hill sold out all of its stake in SWC during the most recent quarter. The investment firm sold 50,048 shares of SWC which is valued $511,991.Icm Asset Management Incwa reduced its stake in SWC by selling 9,520 shares or 8.09% in the most recent quarter. The Hedge Fund company now holds 108,085 shares of SWC which is valued at $1.1 Million. Stillwater Mining Company makes up approx 1.72% of Icm Asset Management Incwa’s portfolio.

Stillwater Mining Company opened for trading at $10.19 and hit $10.56 on the upside on Monday, eventually ending the session at $10.21, with a gain of 2.20% or 0.22 points. The heightened volatility saw the trading volume jump to 24,18,111 shares. Company has a market cap of $1,236 M.

On the company’s financial health, Stillwater Mining Company reported $-0.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 6, 2016. Analyst had a consensus of $-0.06. The company had revenue of $133.63 million for the quarter, compared to analysts expectations of $152.52 million. The company’s revenue was down -33.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.17 EPS.

Many Wall Street Analysts have commented on Stillwater Mining Company. Stillwater Mining Company was Downgraded by Goldman to ” Neutral” on Feb 24, 2016.

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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