Silver Wheaton Corp. (SLW) Trading Up 2.5%
Silver Wheaton Corp. (NYSE:SLW)’s share price was up 2.5% during trading on Monday . The company traded as high as $28.60 and last traded at $28.56, with a volume of 3,912,462 shares traded. The stock had previously closed at $27.87.
A number of equities analysts recently commented on SLW shares. Raymond James Financial Inc. upgraded Silver Wheaton Corp. from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 20th. Vetr downgraded Silver Wheaton Corp. from a “strong-buy” rating to a “buy” rating and set a $17.88 price objective on the stock. in a research report on Wednesday, April 6th. Zacks Investment Research cut Silver Wheaton Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Credit Suisse Group AG raised their target price on Silver Wheaton Corp. to $40.00 in a research note on Tuesday. Finally, BMO Capital Markets raised Silver Wheaton Corp. from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 12th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Silver Wheaton Corp. presently has a consensus rating of “Buy” and an average target price of $23.08.
The company has a 50-day moving average of $24.45 and a 200-day moving average of $18.80. The company’s market capitalization is $12.77 billion.
Silver Wheaton Corp. (NYSE:SLW) last posted its earnings results on Monday, May 9th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.02. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The company earned $188 million during the quarter, compared to analysts’ expectations of $185.25 million. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. Equities analysts anticipate that Silver Wheaton Corp. will post $0.67 earnings per share for the current fiscal year.
A number of large investors recently bought and sold shares of the stock. State of Wisconsin Investment Board raised its stake 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 worth $7,197,000 after buying an additional 144,222 shares during the last quarter. Nationwide Fund Advisors raised its stake 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 worth $1,196,000 after buying an additional 69,710 shares during the last quarter. Trexquant Investment LP bought a new stake in Silver Wheaton Corp. during the fourth quarter worth about $1,125,000. Morgan Stanley raised its stake in Silver Wheaton Corp. by 9.8% in the fourth quarter. Morgan Stanley now owns 2,032,861 shares of the mining company’s stock worth $25,249,000 after buying an additional 182,197 shares during the last quarter. Finally, Comerica Bank raised its stake in Silver Wheaton Corp. by 7.9% in the fourth quarter. Comerica Bank now owns 130,136 shares of the mining company’s stock worth $1,662,000 after buying an additional 9,495 shares during 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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