Silver Wheaton Corp. (SLW) Stock Price Down 3.8%
Silver Wheaton Corp. (NYSE:SLW) shares dropped 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 traded. The stock had previously closed at $30.88.
SLW has been the subject of several research analyst reports. Vetr raised Silver Wheaton Corp. from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Monday, May 30th. HSBC reissued a “buy” rating on shares of Silver Wheaton Corp. in a research note on Thursday, July 7th. TD Securities reissued a “buy” rating and issued a $34.00 price objective (up from $28.00) on shares of Silver Wheaton Corp. in a research note on Thursday, August 4th. Goldman Sachs Group Inc. increased their price objective on Silver Wheaton Corp. from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Zacks Investment Research raised Silver Wheaton Corp. from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Saturday, August 13th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $26.77.
The firm has a 50-day moving average price of $27.45 and a 200-day moving average price of $20.27. The firm’s market capitalization is $13.03 billion.
Silver Wheaton Corp. (NYSE:SLW) last posted its quarterly earnings results on Wednesday, August 10th. The mining company reported $0.14 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.14. The business earned $212 million during the quarter, compared to analysts’ expectations of $198.91 million. The firm’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. On average, equities analysts predict that Silver Wheaton Corp. will post $0.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 7th. Investors of record on Wednesday, August 24th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 22nd. This represents a $0.20 annualized dividend and a yield of 0.65%.
A number of institutional investors have recently modified their holdings of SLW. Connor Clark & Lunn Investment Management Ltd. boosted its position 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 valued at $24,121,000 after buying an additional 1,088,500 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Silver Wheaton Corp. during the fourth quarter valued at about $1,125,000. Finally, Morgan Stanley boosted 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 in 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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