Stillwater Mining Company (NYSE:SWC) was higher nearly 3% in early trade after lifting its guidance for 2014, even as it swung to a Q4 loss on an impairment charge.

The producer of palladium, platinum and other metals reported a Q4 loss of $0.65 per share compared to a profit of $0.13 the year earlier and, if comparable, missed the $0.06 average profit expected by analysts polled by Capital IQ.

The loss attributable to shareholders was $78 million, compared to a profit of $16.9 million, but included a $171.3 million impairment charge of the Marathon properties in Canada. Total revenue in the quarter rose to $242.5 million from $203.4 million, shy of the $256 million consensus estimate.

“Based on the strong end to 2013 combined with the positive progress we are making year-to-date on our strategic priorities, we have elected to update and improve our previously provided financial guidance,” CEO Mick McMullen said in a statement.

Stillwater Mining Company (NYSE:SWC) now expects mined production of palladium and platinum ounces between 520,000 and 535,000, up from previously estimated 515,000 to 530,000. It also lowered its total cash cost per mined ounce range to $540 to $590 from previously $560 to $600. Expected capital expenditure was also lowered to $145 million to $155 million from previously $165 million to $175 million.