Silver Wheaton Corp. (SLW) Trading 3.1% Higher
Silver Wheaton Corp. (NYSE:SLW) traded up 3.1% during trading on Wednesday . The company traded as high as $27.85 and last traded at $27.61, with a volume of 2,220,837 shares changing hands. The stock had previously closed at $26.77.
A number of equities research analysts recently commented on the company. Goldman Sachs Group Inc. upped their price objective on Silver Wheaton Corp. from $28.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 12th. Canaccord Genuity reiterated a “buy” rating and issued a $45.00 price objective (up previously from $44.00) on shares of Silver Wheaton Corp. in a report on Saturday, August 13th. Zacks Investment Research upgraded Silver Wheaton Corp. from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Saturday, August 13th. TD Securities reiterated a “buy” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Silver Wheaton Corp. in a report on Saturday, August 13th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $42.00 price objective (up previously from $40.00) on shares of Silver Wheaton Corp. in a report on Saturday, August 13th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Silver Wheaton Corp. currently has a consensus rating of “Buy” and a consensus price target of $28.15.
The stock’s market capitalization is $12.70 billion. The stock has a 50-day moving average price of $28.27 and a 200-day moving average price of $22.34.
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Silver Wheaton Corp. (NYSE:SLW) last announced its earnings results on Wednesday, August 10th. The mining company reported $0.14 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. The firm had revenue of $212 million for the quarter, compared to the consensus estimate of $198.91 million. Silver Wheaton Corp. had a positive return on equity of 4.77% and a negative net margin of 21.75%. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 EPS. Analysts anticipate that Silver Wheaton Corp. will post $0.72 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Wednesday, August 24th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Monday, August 22nd. Silver Wheaton Corp.’s payout ratio is presently -47.62%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Silver Wheaton Corp. by 3.4% in the first quarter. IFP Advisors Inc now owns 7,791 shares of the mining company’s stock valued at $129,000 after buying an additional 257 shares during the last quarter. Iowa State Bank bought a new position in shares of Silver Wheaton Corp. during the second quarter valued at approximately $141,000. Brookfield Asset Management Inc. bought a new position in shares of Silver Wheaton Corp. during the first quarter valued at approximately $151,000. Integrated Investment Consultants LLC bought a new position in shares of Silver Wheaton Corp. during the second quarter valued at approximately $177,000. Finally, Prospera Financial Services Inc bought a new position in shares of Silver Wheaton Corp. during the second quarter valued at approximately $202,000. 50.86% of the stock is currently owned by hedge funds and other institutional investors.
Silver Wheaton Corp. Company Profile
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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