Commodities & Metals
Cut to Platinum Production Hits Stillwater Mining and ETF Shares
Published:
Last Updated:
Platinum prices have fallen to around $1,488 an ounce, down from nearly $1,600 a month ago and over $1,700 at the beginning of the year. Over the past 12 months, platinum prices are down about $100 an ounce.
The only U.S. platinum miner, Stillwater Mining Co. (NYSE: SWC), saw its share price rise more than 60% in the nine months through early February, but shares have declined by about 20% since then. Some of that was the result of a proxy battle led that ended up making a major change in the company’s board. But rising global stockpiles of platinum and the declining price of the white metal likely played a bigger role.
Here’s a look at how platinum and palladium ETFs have done over the last 12 months. In all but one case, the year-to-date high has dropped from its level in January, when we last looked at these funds.
The ETFS Physical Platinum Shares (NYSEMKT: PPLT) currently trades around $145.95 in a 52-week range of $135.80 to $170.78, off about 15% from a February high.
The UBS E-TRACS Long Platinum Total Return ETN (NYSEMKT: PTM) trades today at $16.64 in a 52-week range of $15.61 to $21.00, down about 21% from an October peak.
The iPath DJ-UBS Platinum Total Return Sub-index ETN (NYSEMKT: PGM) trades at $34.09 in a 52-week range of $30.55 to $39.33, down around 13%since February.
The ETFS Physical Precious Metal Basket Shares (NYSEMKT: GLTR) currently trades at $77.58 in a 52-week range of $74.24 to $102.05, down nearly 25% from an October high.
The PowerShares DB Precious Metals Fund (NYSEMKT: DBP) trades at $47.53 in a 52-week range of $45.10 to $63.80, a drop of 25% since the stock’s October peak.
The ETFS Physical Palladium Shares (NYSEMKT: PALL) trades at $69.34 in a 52-week range of $54.74 to $77.20, down 10% since a peak in March. This fund’s 52-week high improved since January, the only one of this group to achieve that.
Stillwater’s shares are down about 1.5% today at $12.21 in a 52-week range of $7.47 to $14.87. Stillwater posted its high in February, when platinum prices rose above $1,700 an ounce.
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.