5. Stillwater Mining (SWC) engages in the development, extraction, processing, refining and marketing of palladium, platinum and associated platinum group metals (PGMs). The company conducts mining operations in Montana at the Stillwater Mine near Nye, and the East Boulder Mine near Big Timber.
Stillwater reported net income of $36.2 million for 2011 first quarter, or 34 cents per share, on revenue of $170.1 million. This compares to net income of $13.4 million, or 14 cents per diluted share, on revenue of $133.5 million during the first quarter of 2010. Both the Montana mines produced 131,200 ounces of palladium and platinum during the quarter, representing a year-over-year increase of 1.7% and 8.3% sequentially. Average realized price per ounce (palladium and platinum combined) stood at $994 per ounce, up 54.3% year-over-year.
As on March 31, 2011, the company's available cash and cash equivalents (excluding $35.1 million of restricted cash) totaled $43.3 million, up $24 million from Dec. 31, 2010. Furthermore, operating cash flow increased 13.8% to $33.9 million from $29.8 million.Of the four analysts covering the stock, 75% recommend a buy and the remaining rate a hold. There are no sell ratings on the stock. On average, analysts foresee 64.9% upside to $31.50 from current levels. The stock has gained 3.9% during the past one month.
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