Silver Wheaton Corp. (SLW) Stock Price Up 2.8%
Shares of Silver Wheaton Corp. (NYSE:SLW) rose 2.8% during trading on Thursday . The company traded as high as $26.17 and last traded at $26.17, with a volume of 4,979,588 shares. The stock had previously closed at $25.46.
SLW has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their target price on Silver Wheaton Corp. from $20.00 to $21.00 in a report on Tuesday, April 12th. Vetr lowered Silver Wheaton Corp. from a “strong-buy” rating to a “buy” rating and set a $17.88 target price for the company. in a report on Wednesday, April 6th. HSBC reissued a “buy” rating on shares of Silver Wheaton Corp. in a report on Thursday, July 7th. Barclays PLC lowered Silver Wheaton Corp. from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $18.00 to $17.00 in a report on Monday, April 18th. Finally, Standpoint Research lowered Silver Wheaton Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $22.67.
The firm’s 50-day moving average is $23.18 and its 200-day moving average is $17.92. The company’s market cap is $11.51 billion.
Silver Wheaton Corp. (NYSE:SLW) last issued its quarterly earnings data on Monday, May 9th. The mining company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by $0.02. The firm earned $188 million during the quarter, compared to analysts’ expectations of $185.25 million. During the same period in the previous year, the company posted $0.13 EPS. The company’s revenue was up 43.5% on a year-over-year basis. Analysts anticipate that Silver Wheaton Corp. will post $0.66 EPS for the current fiscal year.
Several hedge funds have modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in shares of Silver Wheaton Corp. by 108.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,474,028 shares of the mining company’s stock valued at $18,307,000 after buying an additional 765,496 shares in the last quarter. Russell Frank Co raised its stake in shares of Silver Wheaton Corp. by 835.5% in the fourth quarter. Russell Frank Co now owns 524,411 shares of the mining company’s stock valued at $6,450,000 after buying an additional 468,356 shares in the last quarter. Morgan Stanley raised 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 valued at $25,249,000 after buying an additional 182,197 shares in the last quarter. State of Wisconsin Investment Board raised its stake in shares of Silver Wheaton Corp. by 33.0% in the fourth quarter. State of Wisconsin Investment Board now owns 581,257 shares of the mining company’s stock valued at $7,197,000 after buying an additional 144,222 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Silver Wheaton Corp. during the fourth quarter valued at approximately $1,125,000.
Silver Wheaton Corp. (Silver Wheaton) is a Canada-based mining company. The Company is engaged in pure precious metals streaming and generates its revenues from the sale of silver and gold. As of December 31, 2014, Silver Wheaton had entered into 18 long-term purchase agreements and one early deposit long-term purchase agreement associated with silver and gold (precious metal purchase agreements), relating to 27 different mining assets, whereby Silver Wheaton acquired silver and gold production from the counterparties for a per ounce cash payment which was fixed by contract, generally at or below the prevailing market price.
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