Vanguard Group Inc. Raises Stake in Silver Wheaton Corp. (SLW)
Vanguard Group Inc. increased its stake in Silver Wheaton Corp. (NYSE:SLW) by 20.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,992,999 shares of the mining company’s stock after buying an additional 1,518,741 shares during the period. Vanguard Group Inc. owned about 2.04% of Silver Wheaton Corp. worth $211,606,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SLW. Iowa State Bank bought a new position in Silver Wheaton Corp. during the second quarter valued at about $141,000. Integrated Investment Consultants LLC bought a new position in Silver Wheaton Corp. during the second quarter valued at about $177,000. Prospera Financial Services Inc bought a new position in Silver Wheaton Corp. during the second quarter valued at about $202,000. V Wealth Management LLC bought a new position in Silver Wheaton Corp. during the second quarter valued at about $227,000. Finally, Eqis Capital Management Inc. bought a new position in Silver Wheaton Corp. during the second quarter valued at about $239,000. Institutional investors own 50.86% of the company’s stock.
Silver Wheaton Corp. (NYSE:SLW) opened at 22.86 on Friday. Silver Wheaton Corp. has a 12 month low of $10.04 and a 12 month high of $31.35. The stock’s 50 day moving average is $26.19 and its 200-day moving average is $23.26. The firm’s market capitalization is $10.06 billion.
Silver Wheaton Corp. (NYSE:SLW) last released 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. Silver Wheaton Corp. had a negative net margin of 21.75% and a positive return on equity of 4.77%. The business had revenue of $212 million for the quarter, compared to analyst estimates of $198.91 million. During the same period last year, the firm earned $0.13 earnings per share. Silver Wheaton Corp.’s revenue for the quarter was up 29.3% compared to the same quarter last year. Equities analysts anticipate that Silver Wheaton Corp. will post $0.72 earnings per share for the current fiscal year.
Several research firms have recently issued reports on SLW. Zacks Investment Research downgraded shares of Silver Wheaton Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Goldman Sachs Group Inc. lifted their target price on shares of Silver Wheaton Corp. from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Standpoint Research lowered shares of Silver Wheaton Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Credit Suisse Group AG upgraded shares of Silver Wheaton Corp. from a “neutral” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Thursday, June 30th. Finally, RBC Capital Markets reiterated an “outperform” rating on shares of Silver Wheaton Corp. in a research report on Sunday, October 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.00.
About Silver Wheaton Corp.
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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