Shares of Silver Wheaton Corp. (SLW) saw major losses on Monday. The stock traded down ($1.96) or 4.6% for the day and last traded at $40.65. Approximately 13,831,610 shares changed hands during mid-day trading.
Separately, analysts at RBC Capital (NYSE: RY) raised their price target on shares of Silver Wheaton Corp. from $48.00 to $50.00 in a research note to investors on Thursday, March 24th. They now have a sector perform rating on the stock. Also, analysts at Zacks Investment Research downgraded shares of Silver Wheaton Corp. from an outperform rating to a neutral rating in a research note to investors on Friday, March 4th.
Silver Wheaton Corp. (Silver Wheaton) is a mining company, which generates its revenue primarily from the sale of silver. As of December 31, 2009, the Company had entered into 13 long-term silver purchase agreements and two long-term precious metal purchase agreements. The Company has nine business segments: the silver produced by the Luismin, Zinkgruvan, Yauliyacu, Penasquito, Cozamin, Barrick and Other mines, the silver and gold produced by the Minto mine and corporate operations. Its 100% wholly owned subsidiaries include Silver Wheaton (Caymans) Ltd. and Silverstone Resources (Barbados) Corp. The Luismin operations consist of the San Dimas mine, the Los Filos mine and the San Martin mine. The Yauliyacu mine is located in central Peru.The Company has an agreement to acquire an amount equal to 25% of the silver produced from Goldcorps Peñasquito mining operations in Mexico for the life of mine.
Silver Wheaton Corp. has a 52 week low of $16.80 and a 52 week high of $47.60. The stocks 50-day moving average is $42.88 and its 200-day moving average is $35.7. The company has a market cap of $14.452 billion and a price-to-earnings ratio of 51.34.
Silver Wheaton Corp. last announced its quarterly results on Friday, March 4th. The company reported $0.35 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.31 EPS by $0.04. The companys quarterly revenue was up 65.1% on a year-over-year basis. On average, analysts predict that Silver Wheaton Corp. will post $0.43 EPS next quarter.