Silver Wheaton Corp. Stock Price Down 4.5% Following Weak Earnings (SLW)
Silver Wheaton Corp. (NYSE:SLW)’s share price fell 4.5% during mid-day trading on Thursday following a weaker than expected earnings announcement, Analyst Ratings Net reports. The company traded as low as $25.91 and last traded at $25.95, with a volume of 3,311,095 shares changing hands. The stock had previously closed at $27.18.
The company reported $0.18 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.22 by $0.04. The company had revenue of $148.60 million for the quarter, compared to the consensus estimate of $184.37 million.
A number of analysts have recently weighed in on SLW shares. Analysts at Raymond James raised their price target on shares of Silver Wheaton Corp. from $31.00 to $32.00 in a research note on Monday, July 14th. Separately, analysts at RBC Capital raised their price target on shares of Silver Wheaton Corp. from $35.00 to $38.00 in a research note on Wednesday, July 9th. Finally, analysts at Morgan Stanley raised their price target on shares of Silver Wheaton Corp. from $25.00 to $27.30 in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $31.94.
The stock’s 50-day moving average is $26.43 and its 200-day moving average is $23.92. The company has a market cap of $9.193 billion and a P/E ratio of 30.20.
Silver Wheaton Corp. (NYSE:SLW) is a mining company, which generates its revenue primarily from the sale of silver.
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