Stillwater Mining Posts Q2 Loss; Updates 2015 Production Guidance - Quick Facts

(RTTNews) - Stillwater Mining Company (SWC) reported a second quarter net loss attributable to stockholders of $27.5 million, or $0.23 per share, compared to profit of $17.9 million, or $0.14 per share for the second quarter of 2014. The company noted that its results for the quarter include a $46.8 million (before-tax) impairment charge taken on the Marathon mineral properties.

Total revenues decreased to $185.38 million from $249.89 million, a year ago. Analysts polled by Thomson Reuters expected revenue of $209.04 million for the quarter.

Mine production in the second quarter of 2015 was 127,000 ounces of palladium and platinum, a slight increase from 126,400 ounces produced during the second quarter of 2014. The company said its second quarter 2015 production was negatively impacted by the scheduled seven-day shutdown of the concentrator, production hoist and underground crusher at the Stillwater Mine to perform major maintenance.

For 2015, the company updated guidance for its Mined Production, in palladium and platinum ounces, range to 500,000 - 515,000 from previous guidance range of 520,000 - 535,000.