Deutsche Bank AG Initiates Coverage on Silver Wheaton Corp. (SLW)

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Equities research analysts at Deutsche Bank AG started coverage on shares of Silver Wheaton Corp. (NYSE:SLW) in a research report issued on Friday. The firm set a “buy” rating on the mining company’s stock.
A number of other brokerages have also issued reports on SLW. TD Securities restated a “buy” rating and set a $36.00 price target (up previously from $34.00) on shares of Silver Wheaton Corp. in a research note on Saturday, August 13th. Royal Bank Of Canada restated an “outperform” rating and set a $27.00 price target on shares of Silver Wheaton Corp. in a research note on Tuesday, May 17th. Credit Suisse Group AG restated an “outperform” rating and set a $42.00 price target (up previously from $40.00) on shares of Silver Wheaton Corp. in a research note on Saturday, August 13th. RBC Capital Markets restated an “outperform” rating on shares of Silver Wheaton Corp. in a research note on Thursday, August 4th. Finally, Zacks Investment Research lowered shares of Silver Wheaton Corp. from a “buy” rating to a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Silver Wheaton Corp. presently has a consensus rating of “Buy” and a consensus price target of $27.42.
Silver Wheaton Corp. (NYSE:SLW) opened at 28.90 on Friday. The company’s 50 day moving average is $28.21 and its 200-day moving average is $21.60. Silver Wheaton Corp. has a 1-year low of $10.04 and a 1-year high of $31.35. The stock’s market cap is $12.72 billion.

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Silver Wheaton Corp. (NYSE:SLW) last posted its earnings results on Wednesday, August 10th. The mining company reported $0.14 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.14. The firm had revenue of $212 million for the quarter, compared to analysts’ expectations of $198.91 million. The company’s revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. Equities research analysts forecast that Silver Wheaton Corp. will post $0.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Wednesday, August 24th were paid a $0.05 dividend. The ex-dividend date was Monday, August 22nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. Silver Wheaton Corp.’s payout ratio is currently -47.62%.
Several hedge funds have added to or reduced their stakes in SLW. Carmignac Gestion raised its stake 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 during the last quarter. Arrowgrass Capital Partners US LP acquired a new stake in Silver Wheaton Corp. during the first quarter worth $53,056,000. Norges Bank acquired a new stake in Silver Wheaton Corp. during the fourth quarter worth $37,883,000. Ruffer LLP raised its stake in Silver Wheaton Corp. by 99.7% in the first quarter. Ruffer LLP now owns 4,460,780 shares of the mining company’s stock worth $74,059,000 after buying an additional 2,227,285 shares during the last quarter. Finally, Addenda Capital Inc. raised its stake in Silver Wheaton Corp. by 344.4% in the first quarter. Addenda Capital Inc. now owns 1,194,165 shares of the mining company’s stock worth $19,961,000 after buying an additional 925,445 shares during the last quarter. Hedge funds and other institutional investors own 51.47% of the company’s stock.
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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