Silver Wheaton Corp.

Silver Wheaton is the largest pure precious metals streaming company in the world. Based upon its current agreements, forecast 2015 estimated annual attributable production is approximately 44.5 Moz Ag eq including 230 Koz gold. By 2019, estimated annual attributable production is anticipated to increase significantly to approximately 55 Moz Ag eq, including 325 Koz gold. This anticipated growth is expected to be driven by the Company’s portfolio of low-cost and long-life assets, including precious metal and gold streams on Vale’s Salobo mine and Hudbay’s Constancia project.

Expert Comments:

Charles Gibson, Edison Investment Research (5/25/16)
"After four quarters in which the production of both gold and silver achieved successive new records, output attributable to Silver Wheaton (SLW) moderated in Q116 – albeit to only the second-best ever – with good quarterly performances (again) from Antamina and Salobo. . .Silver Wheaton is trading on near-term financial ratios that are cheaper than those of its royalty/streaming 'peers' on at least 83% of valuation measures considered and the miners themselves on at least 61% of measures considered, despite being associated with materially less operational and cost risk, in particular."

Andrew Kaip, BMO Capital Markets (5/24/16)
"Recently, we attended a site visit of the Salobo mine in Brazil. . .Silver Wheaton Corp. has a life-of-mine stream to purchase 50% of the gold (an initial 25% in Q1/13 for $1.3B and a further 25% in Q1/15 for $0.9B) at a delivery charge of $400/oz that began to increase 1% annually in 2016. . . [at] current processing rates, Salobo has a 48-year mine life, providing SLW a cornerstone long-lived stream with annual deliverable gold sales of 145koz through 2042."

"One the best-known streaming/royalty companies in the mining space is Silver Wheaton Corp.; it has performed well during the 2016 bounce in commodity prices, offering leverage to the underlying move of the metals." read more >

Andrew Kaip, BMO Capital Markets (5/11/16)
"A positive outlook for silver and gold prices combined with a view that the gold-to-silver ratio will continue to improve to approximately 65 to 1 should be a compelling catalyst for shares of Silver Wheaton Corp. . .in the context of an environment where silver outperforms gold, we expect shares of Silver Wheaton to deliver superior price performance relative to more gold-weighted peers. . . we expect Silver Wheaton will become increasingly attractive to generalist investors re-entering the sector and seeking exposure to silver."

Josh Wolfson, Dundee Capital Markets (5/9/16)
"Silver Wheaton Corp. reported 1Q silver equivalent in-concentrate production of 12.7 MMSEO, 2% above our 12.5 MMSEO estimate. . .results benefitted from higher silver production from Antamina (2.0 MMoz Ag vs. our 1.4 MMoz est.). . . subsequent to quarter-end, the company completed its equity financing for net proceeds of $607MM, which was used to repay outstanding debt on its credit facility."

Cosmos Chiu, CIBC World Markets (5/9/16)
"Silver Wheaton Corp.'s Q1/16 attributable silver equivalent production benefitted from strong contributions from Salobo (up 39% YOY) and Antamina EPS 2014-2015 (second quarter of contribution), offsetting lower production from San Dimas. . .relative to 2016 guidance, both Antamina and Sudbury are tracking ahead of guidance, and higher production is expected from Salobo as it reaches full production capacity in H2/16."

More Expert Comments

Experts Following This Company

Ralph Aldis, Portfolio Manager, Gold and Natural Resources – U.S. Global Investors
Michael Berry, Writer Disruptive Discoveries Journal
Chris Berry, Founder – House Mountain Partners LLC.
John Bridges, Analyst – J.P. Morgan
Cosmos Chiu, Executive Director of Precious Metals Equity Research – CIBC World Markets
Adrian Day, Founder – Adrian Day Asset Management
Charles Gibson, Director, Mining – Edison Investment Research
Ash Guglani, Analyst – Salman Partners
Jason Hamlin, Founder – Gold Stock Bull
John Hathaway, Senior Managing Director – Tocqueville Asset Management L.P.
Tom Hayes, Analyst – Edison Investment Research
Frank Holmes, Chairman – U.S. Global Investors
Andrew Kaip, Analyst – BMO Capital Markets
Marin Katusa, Analyst – Katusa Research
Jeff Killeen, Analyst – CIBC World Markets
Tony Lesiak, Head of Canadian Mining Research – Canaccord Genuity
Brad Mills, Fund Manager/CEO – Plinian Capital
David Morgan, Publisher – Silver Investor
Bob Moriarty, Author 321 Gold
Dan Rollins, Analyst – RBC Capital Markets
Rick Rule, Chairman – Sprott Global Resource Investments Ltd.
Phil Russo, Research Associate – Raymond James
Porter Stansberry, Pres & CEO – Stansberry Research
Trevor Turnbull, Analyst – Scotia Capital
Josh Wolfson, VP, Senior Analyst Gold & Precious Metals – Dundee Capital Markets

The information provided above is from analysts, newsletters, the company and other contributors.

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