Silver Wheaton Corp. (SLW) Cut to Sector Perform at National Bank Financial
National Bank Financial cut shares of Silver Wheaton Corp. (NYSE:SLW) from an outperform rating to a sector perform rating in a research report released on Thursday. National Bank Financial currently has $37.00 target price on the mining company’s stock, down from their prior target price of $43.00.
Several other equities analysts have also recently commented on SLW. Zacks Investment Research cut shares of Silver Wheaton Corp. from a hold rating to a sell rating in a report on Tuesday, June 28th. Credit Suisse Group AG upgraded shares of Silver Wheaton Corp. from a neutral rating to an outperform rating and set a $35.00 price objective for the company in a report on Thursday, June 30th. HSBC reiterated a buy rating on shares of Silver Wheaton Corp. in a report on Thursday, July 7th. Standpoint Research cut shares of Silver Wheaton Corp. from a buy rating to a hold rating in a report on Monday, July 11th. Finally, RBC Capital Markets reiterated an outperform rating on shares of Silver Wheaton Corp. in a report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Silver Wheaton Corp. has an average rating of Buy and a consensus price target of $31.00.
Silver Wheaton Corp. (NYSE:SLW) opened at 23.15 on Thursday. The stock’s market capitalization is $10.19 billion. Silver Wheaton Corp. has a 1-year low of $10.04 and a 1-year high of $31.35. The company has a 50-day moving average price of $26.09 and a 200 day moving average price of $23.39.
Silver Wheaton Corp. (NYSE:SLW) last posted 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. 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 analysts’ expectations of $198.91 million. During the same period in the previous year, the company posted $0.13 EPS. Silver Wheaton Corp.’s revenue was up 29.3% on a year-over-year basis. On average, equities analysts predict that Silver Wheaton Corp. will post $0.72 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLW. Shell Asset Management Co. raised its position in Silver Wheaton Corp. by 20.5% in the second quarter. Shell Asset Management Co. now owns 565,908 shares of the mining company’s stock worth $17,209,000 after buying an additional 96,178 shares in the last quarter. Arrowgrass Capital Partners US LP purchased a new position in Silver Wheaton Corp. during the first quarter worth $53,056,000. Legal & General Group Plc raised its position in Silver Wheaton Corp. by 4.1% in the first quarter. Legal & General Group Plc now owns 2,011,151 shares of the mining company’s stock worth $33,510,000 after buying an additional 78,746 shares in the last quarter. Brookfield Asset Management Inc. purchased a new position in Silver Wheaton Corp. during the first quarter worth $151,000. Finally, Carmignac Gestion raised its position in Silver Wheaton Corp. by 81.7% in the second quarter. Carmignac Gestion now owns 11,220,799 shares of the mining company’s stock worth $264,025,000 after buying an additional 5,046,101 shares in the last quarter. 50.88% of the stock is owned by hedge funds and other institutional investors.
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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