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News Breaks
May 16, 2014
08:10 EDTSWCStillwater Mining, Johnson Matthey agree to five-year PGM agreement
Stillwater Mining announced that it has agreed to a five-year platinum group metal, or PGM, refining and sales contract with Johnson Matthey, a leading manufacturer of auto catalysts and precious metals refiner. The key terms of the agreement are: Johnson Matthey will purchase all of Stillwater's mined palladium and a significant share of their mined platinum based on an annual pricing mechanism linked to various industry benchmarks, with Stillwater retaining the ability to opt out of the metal sales agreement under certain terms and the payment of a nominal fee; Stillwater will utilize Johnson Matthey's refining services for all of its mined production and recycling material at competitive terms; Stillwater will realize a one-time working capital release in the range of $17M-$22M because of the timing of the new sales agreement; Stillwater and Johnson Matthey agree to cooperate, where appropriate, to secure material for Stillwater's recycling business; Johnson Matthey will provide its proprietary PGM market analysis services to Stillwater; Stillwater and Johnson Matthey agree to actively collaborate on technical items in an effort to optimize the PGM smelting and refining process
News For SWC From The Last 14 Days
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December 17, 2014
09:22 EDTSWCOn The Fly: Pre-market Movers
HIGHER: Auspex Pharmaceuticals (ASPX), up 83.1% after Phase 3 trial of SD-809 met primary efficacy endpoint... Volcano (VOLC), up 55.3% after Philips (PHG) announced it will acquire the company for $18.00 per share... Paramount Gold and Silver (PZG), up 35.9% after announcing a merger agreement with Coeur Mining... Cerus (CERS), up 17.8% after FDA approves Intercept Blood System... American Apparel (APP), up 15.5% after terminating Dov Charney for cause... TASER (TASR), up 6.1% after LAPD purchases 860 AXON body-worn video cameras... Idera Pharmaceuticals (IDRA), up 5.9% after being called a top 2015 small cap pick at Piper Jaffray... Kandi Technologies (KNDI), up 7.5% after selling 1,000 electric vehicles to Chengdu City... Stillwater Mining (SWC), up 2.7% after being upgraded to Buy from Neutral at Goldman. DOWN AFTER EARNINGS: FedEx (FDX), down 3.5%... Joy Global (JOY), down 1.7%. ALSO LOWER: POZEN (POZN), down 13.1% after receiving a second complete response letter from the FDA for Yosprala... Cliffs Natural (CLF), down 13.1% after price target cut to $1 from $10 at Credit Suisse... Coeur Mining (CDE), down 2.8% following merger agreement with Paramount Gold and Silver.
06:48 EDTSWCStillwater Mining upgraded to Buy from Neutral at Goldman
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December 11, 2014
07:47 EDTSWCStillwater Mining initiated with a Buy at BofA/Merrill
Target $17.

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