Silver Wheaton Corp. (SLW) Reaches New 12-Month High at $26.44
Silver Wheaton Corp. (NYSE:SLW) shares reached a new 52-week high during trading on Monday . The stock traded as high as $26.44 and last traded at $26.39, with a volume of 4,367,544 shares traded. The stock had previously closed at $26.02.
Several research analysts have recently commented on SLW shares. Royal Bank Of Canada raised their price target on Silver Wheaton Corp. from $20.00 to $21.00 in a research report on Tuesday, April 12th. Vetr lowered Silver Wheaton Corp. from a “strong-buy” rating to a “buy” rating and set a $17.88 target price for the company. in a report on Wednesday, April 6th. HSBC reiterated a “buy” rating on shares of Silver Wheaton Corp. in a report on Thursday, July 7th. Barclays PLC lowered Silver Wheaton Corp. from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $18.00 to $17.00 in a report on Monday, April 18th. Finally, Standpoint Research lowered Silver Wheaton Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $22.67.
The stock’s market cap is $11.61 billion. The company has a 50 day moving average price of $22.45 and a 200-day moving average price of $17.65.
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 analysts’ consensus estimates of $0.12 by $0.02. The firm earned $188 million during the quarter, compared to analyst estimates of $185.25 million. During the same period last year, the firm posted $0.13 EPS. The firm’s revenue was up 43.5% on a year-over-year basis. On average, equities analysts forecast that Silver Wheaton Corp. will post $0.63 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Silver Wheaton Corp. by 108.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,474,028 shares of the mining company’s stock worth $18,307,000 after buying an additional 765,496 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Silver Wheaton Corp. during the fourth quarter valued at about $1,125,000. Morgan Stanley increased its stake in shares of Silver Wheaton Corp. by 9.8% in the fourth quarter. Morgan Stanley now owns 2,032,861 shares of the mining company’s stock valued at $25,249,000 after buying an additional 182,197 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Silver Wheaton Corp. by 7.5% in the fourth quarter. Gulf International Bank UK Ltd now owns 114,645 shares of the mining company’s stock valued at $1,426,000 after buying an additional 8,000 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its stake in shares of 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 in the last quarter.
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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