Silver Wheaton Corp. (SLW) Trading Down 3.8%
Silver Wheaton Corp. (NYSE:SLW) fell 3.8% on Wednesday . The stock traded as low as $29.48 and last traded at $29.70, with a volume of 3,347,233 shares. The stock had previously closed at $30.88.
Several brokerages recently weighed in on SLW. Zacks Investment Research lowered Silver Wheaton Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Vetr lowered Silver Wheaton Corp. from a “buy” rating to a “hold” rating and set a $17.97 target price for the company. in a report on Tuesday, April 19th. Goldman Sachs Group Inc. lifted their target price on Silver Wheaton Corp. from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 5th. Standpoint Research lowered Silver Wheaton Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Credit Suisse Group AG raised Silver Wheaton Corp. from a “neutral” rating to an “outperform” rating and set a $35.00 target price for the company in a report on Thursday, June 30th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $26.77.
The company’s market capitalization is $13.35 billion. The firm’s 50 day moving average is $26.99 and its 200 day moving average is $20.12.
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, hitting analysts’ consensus estimates of $0.14. During the same quarter in the previous year, the company earned $0.13 EPS. The company earned $212 million during the quarter, compared to analysts’ expectations of $198.91 million. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. Analysts forecast that Silver Wheaton Corp. will post $0.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 7th. Shareholders of record on Wednesday, August 24th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Monday, August 22nd.
A number of hedge funds recently modified their holdings of the company. Bridgewater Associates LP boosted its stake in shares of Silver Wheaton Corp. by 13.1% in the fourth quarter. Bridgewater Associates LP now owns 612,392 shares of the mining company’s stock worth $7,606,000 after buying an additional 70,800 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Silver Wheaton Corp. during the fourth quarter worth approximately $1,125,000. Morgan Stanley boosted 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 worth $25,249,000 after buying an additional 182,197 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Silver Wheaton Corp. by 126.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,948,031 shares of the mining company’s stock worth $24,121,000 after buying an additional 1,088,500 shares during the last quarter.
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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