Silver Wheaton Corp. (SLW) Trading 3% Higher
Silver Wheaton Corp. (NYSE:SLW) shares traded up 3% during trading on Wednesday . The company traded as high as $26.26 and last traded at $26.16, with a volume of 2,938,011 shares changing hands. The stock had previously closed at $25.41.
A number of analysts have recently issued reports on SLW shares. Barclays PLC reaffirmed a “buy” rating on shares of Silver Wheaton Corp. in a report on Saturday, March 19th. Vetr raised shares of Silver Wheaton Corp. from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Monday, May 30th. Royal Bank Of Canada lifted their price objective on shares of Silver Wheaton Corp. from $20.00 to $21.00 in a report on Tuesday, April 12th. Standpoint Research downgraded shares of Silver Wheaton Corp. from a “buy” rating to a “hold” rating in a report on Monday. Finally, BMO Capital Markets raised shares of Silver Wheaton Corp. from a “market perform” rating to an “outperform” rating in a report on Thursday, May 12th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.07.
The company’s market cap is $11.55 billion. The stock’s 50-day moving average is $22.00 and its 200 day moving average is $17.37.
Silver Wheaton Corp. (NYSE:SLW) last released its quarterly earnings data on Monday, May 9th. The mining company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The business had revenue of $188 million for the quarter, compared to analyst estimates of $185.25 million. The firm’s revenue was up 43.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 EPS. On average, equities analysts forecast that Silver Wheaton Corp. will post $0.62 EPS for the current fiscal year.
A number of institutional investors have added to or reduced their stakes in the stock. Russell Frank Co raised its position in Silver Wheaton Corp. by 835.5% in the fourth quarter. Russell Frank Co now owns 524,411 shares of the mining company’s stock valued at $6,450,000 after buying an additional 468,356 shares during the period. Nationwide Fund Advisors raised its position in Silver Wheaton Corp. by 262.0% in the fourth quarter. Nationwide Fund Advisors now owns 96,319 shares of the mining company’s stock valued at $1,196,000 after buying an additional 69,710 shares during the period. Comerica Bank raised its position in Silver Wheaton Corp. by 7.9% in the fourth quarter. Comerica Bank now owns 130,136 shares of the mining company’s stock valued at $1,662,000 after buying an additional 9,495 shares during the period. Alps Advisors Inc. acquired a new position in Silver Wheaton Corp. during the fourth quarter valued at approximately $1,462,000. Finally, State of Wisconsin Investment Board raised its position in Silver Wheaton Corp. by 33.0% in the fourth quarter. State of Wisconsin Investment Board now owns 581,257 shares of the mining company’s stock valued at $7,197,000 after buying an additional 144,222 shares during the period.
Silver Wheaton Corp. (Silver Wheaton) is a Canada-based mining company. The Company is engaged in pure precious metals streaming and generates its revenues from the sale of silver and gold. As of December 31, 2014, Silver Wheaton had entered into 18 long-term purchase agreements and one early deposit long-term purchase agreement associated with silver and gold (precious metal purchase agreements), relating to 27 different mining assets, whereby Silver Wheaton acquired silver and gold production from the counterparties for a per ounce cash payment which was fixed by contract, generally at or below the prevailing market price.
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