Boston, MA 05/21/2014 (wallstreetpr) – Stillwater Mining Company (NYSE:SWC) said that it inked a deal last week with a U.K company that will purchase a significant amount of the platinum and all of the palladium that it produces. The business deal with Matthey PLC will run for five years and will be a market booster for the largest mining company in Montana. Matthey makes pollution control equipment using platinum and palladium as catalysts in the systems it manufactures.
The deal with a U.K company comes a time when Stillwater Mining Company (NYSE:SWC) seeks to stabilize its operations and balance sheet. The company’s CEO Michael McMullen recently announced that layoffs will be inevitable as the company seeks to reposition itself for long-term growth. SWC therefore intends to reduce labor costs to support its profitability.
Talk about profitability and the company recently announced 1Q2014 financial results that showed it earning 15 cents per share, ahead of the consensus estimate of 10 cents per share. Revenue in the quarter was $219.50 million, against the estimated revenue of $241.60 million. Both revenue and earnings were up in the quarter on a year-over-year basis.
Triangle Petroleum Corporation (NYSEMKT:TPLM) expects to report a historic 2Q performance. The company’s CEO John Samuel said the future looks positive for the company in the spring and summer. In addition to the spirited efforts that the company continues to put in enhancing its production to attract higher revenue, it is also keen on identifying new cost-saving opportunities in efforts to boost profitability.
Triangle Petroleum recently announced the purchase of a Williams Basin property for about $120 million through which it hopes to boost production. In view of the ongoing restructuring in the company, Triangle Petroleum Corporation (NYSEMKT:TPLM) can bet that 2Q results will be historic.
The senior management team at Oiltanking Partners LP (NYSE:OILT) will today meet industry investors at an investor conference in Florida. The company’s CEO Ken Owen, SVP Commerce and Business Development Bo McCall and CFO Jon Ackerman will present at the NAPTP 2014 MLP Investor Conference in Ponte Vedra Beach, Florida. The executives will seize the opportunity to provide a highlight of their business to the participating investors.
