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Enter Symbol:
Rating: SWC
Outperform $11

Stillwater Mining Company (NYSE: SWC) rated to Outperform with price target $11 by FBR Capital

Thursday,  Jan 28, 2016  8:25 AM ET by Kristen Bailey

FBR Capital rated Stillwater
Mining Company (NYSE: SWC) to Outperform with price target $11.

Stillwater Mining Company is engaged in the development, extraction, processing, refining and marketing of palladium, platinum and associated metals from a geological formation in south central Montana known as the J-M Reef and from the recycling of spent catalytic converters. The Company conducts mining operations at the Stillwater Mine near Nye, Montana and at the East Boulder Mine near Big Timber, Montana. Both mines are located on the J-M Reef. The Company operates concentrating plants at each mining operation to upgrade mined production to a concentrate form. The Company operates a smelter and base metal refinery at Columbus, Montana at which it further upgrades the mined concentrates into a PGM-rich filter cake. During the year ended December 31, 2008, the Company had proven and probable ore reserves of approximately 38.2 million tons with an average grade of 0.54 ounce of platinum group metals (PGMs) per ton.

FBR Capital uses a highly disciplined analysis focused on intrinsic value, which we developed to critically examine the capital structure of the companies we cover, as well as their competitive positions and the growth opportunities within their industries. We apply this discipline – which helps us assess how effectively a company’s managers deploy the capital entrusted to them – not only in our published research but also when making investing and underwriting judgments.



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