Active Movers in Hot Line: Stillwater Mining (NYSE:SWC), Lakeland Bancorp (NASDAQ:LBAI)

Stillwater Mining Company (NYSE:SWC) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 17.98% to close at $17.32 with the total traded volume of 37.8 Million shares. Stillwater Mining Company (SWC) revealed that it has entered into an contract with Sibanye Gold Limited (SBGL), under which Sibanye will acquire Stillwater for $18.00 per share in cash representing an aggregate enterprise value of $2.2 billion. The Board of Stillwater Mining has unanimously authorized the transaction.

Mick McMullen, CEO of Stillwater Mining, stated: “This compelling all-cash transaction delivers immediate value to shareholders and appropriately recognizes the value of Stillwater’s high-grade and long-life assets and world-class metallurgical and PGM recycling complex, as well as Stillwater’s potential for brown field expansions through the development of our Blitz and Lower East Boulder projects.

“Sibanye has secured bridge financing of $2.7 billion provided by Citi and HSBC to fund the transaction consideration and repay certain existing indebtedness of Stillwater. Sibanye’s two largest shareholders, Gold One International Ltd. and Public Investment Corporation Ltd., which in aggregate represent 29% of Sibanye’s issued share capital, have confirmed their support of the transaction. The parties expect the closing to occur in the second quarter of 2017. The firm has institutional ownership of 93.20%, while insider ownership included 0.53%. Its price to sales ratio ended at 2.66. SWC attains analyst recommendation of 2.30 with week performance of 14.17%.

Lakeland Bancorp, Inc. (NASDAQ:LBAI) [Trend Analysis] plunged reacts as active mover, shares a decrease -0.78% to traded at $19.00 and the percentage gap between open changing to regular change was -0.78%. Lakeland Bancorp, Inc. (LBAI) declared that it has filed a prospectus supplement to its existing shelf registration statement on Form S-3 for the sale of up to $50,000,000 of its common stock through an “at-the-market” equity offering program. The Company intends to use the net proceeds from this offering for general corporate purposes and to support future growth.

Pending this use, the proceeds may be invested in short-term investments.The shares will be offered through Keefe, Bruyette& Woods, Inc. as sales agent. The sales agent may sell shares of our common stock by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415 of the Securities Act of 1933, as amended, including without limitation sales made directly on the NASDAQ Global Select Market, on any other existing trading market for the common stock or to or through a market maker.

In addition, with our prior consent, the sales agent may also sell the common stock by any other method permitted by law, including, but not limited to, negotiated transactions. Sales may be made at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The firm past twelve months price to sales ratio was 5.57 and price to cash ratio remained 4.01. As far as the returns are concern, the return on equity was recorded as 8.40% and return on investment was 14.00% while its return on asset stayed at 0.90%. The firm has total debt to equity ratio measured as 0.80.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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