Platinum and palladium producer Stillwater Mining Co's (SWC.N) quarterly profit almost tripled, but the results fell short of Wall Street expectations and the company's stock slipped. Analysts said investors are concerned about Stillwater's plans to diversify by buying Canadian gold and copper miner Peregrine Metals (PGM.TO). Since the $450 million deal was announced last month, Stillwater's stock has fallen 37 percent, said analyst Leon Esterhuizen, of RBC Capital Markets. The stock was down 19 cents at $14.57 in Wednesday morning trading on the New York Stock Exchange.
Shares of SWC fell by 1.29% or $-0.19/share to $14.57. In the past year, the shares have traded as low as $12.47 and as high as $25.90. On average, 3954040 shares of SWC exchange hands on a given day and today's volume is recorded at 936889.
