Silver Wheaton Corp. (SLW) Sets New 52-Week High at $29.66
Silver Wheaton Corp. (NYSE:SLW) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.66 and last traded at $29.62, with a volume of 1,684,048 shares trading hands. The stock had previously closed at $29.22.
Several research firms recently issued reports on SLW. Zacks Investment Research cut Silver Wheaton Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Vetr cut Silver Wheaton Corp. from a “buy” rating to a “hold” rating and set a $17.97 target price on the stock. in a research note on Tuesday, April 19th. Barclays PLC cut Silver Wheaton Corp. from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $18.00 to $17.00 in a research note on Monday, April 18th. Goldman Sachs Group Inc. raised their target price on Silver Wheaton Corp. from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, Standpoint Research cut Silver Wheaton Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $24.23.
The firm’s market capitalization is $13.27 billion. The stock’s 50-day moving average is $25.91 and its 200-day moving average is $19.49.
Silver Wheaton Corp. (NYSE:SLW) last issued its quarterly earnings results on Wednesday, August 10th. The mining company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. During the same quarter in the previous year, the company posted $0.13 earnings per share. The firm had revenue of $212 million for the quarter, compared to the consensus estimate of $198.91 million. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. Equities research analysts predict that Silver Wheaton Corp. will post $0.69 EPS for the current fiscal year.
Other institutional investors have recently modified their holdings of the company. Morgan Stanley increased its position 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 during the last quarter. Comerica Bank increased its position in shares of 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 last quarter. Nationwide Fund Advisors increased its position in shares of 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 last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Silver Wheaton Corp. during the fourth quarter valued at approximately $1,125,000.
Silver Wheaton Corp. (Silver Wheaton) is a mining company. The Company is a pure precious metals streaming company engaged in the sale of silver and gold. It has entered into over 19 long-term purchase agreements and approximately two early deposit long-term purchase agreement associated with silver and gold, relating to over 30 different mining assets, whereby Silver Wheaton acquires silver and gold production at various mines.
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