Wells Fargo Starts Stillwater Mining (SWC) at Outperform

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Wells Fargo initiates coverage on Stillwater Mining (NYSE: SWC) with a Outperform with a $17-$20 valuation range.

The firm comments, "In our view, palladium has one of the best supply/demand stories within the metals sector. Supply has come offline due to the depletion of Russian stockpiles and production curtailments in South Africa, while demand is tied to a resilient auto market. The Marathon acquisition is a modest overhang (PGM reserves were overestimated), though the asset is still likely attractive due to improved metals pricings."

For an analyst ratings summary and ratings history on Stillwater Mining click here. For more ratings news on Stillwater Mining click here.

Shares of Stillwater Mining closed at $13.84 yesterday, with a 52 week range of $7.47-$15.24.

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