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:

"Silver Wheaton Corp. is levered to the silver price. In Raymond James' July 21 Q2/16 Precious Metals Preview report, the firm named Silver Wheaton a top pick both as a silver equity and a streamer. Credit Suisse upgraded Silver Wheaton at the end of June from Neutral to Outperform. Analyst Ralph Profit noted, "While CRA tax risk likely continues as an overhang, SLW's business model still provides investors with a highly levered play on precious metals prices and SLW should still command a multiple in-line with royalty valuations and a premium to precious metals miners based on its leverage to underlying prices, free cash flow, and strong balance sheet." read more >

Alpha Investor, Seeking Alpha (7/23/16)
"Silver Wheaton Corp. shares have gone from strength to strength this year, rising more than 110% and currently trading close to 52-week highs. . .I believe that Silver Wheaton will be able to sustain this strong stock price momentum as it is on track to deliver robust second-quarter results in a couple of weeks. . . the company is anticipated to post top line growth of 23.4% in the second quarter to almost $203 million. . .Silver Wheaton is well-prepared to deliver strong revenue and earnings growth."

Charles Gibson, Edison Investment Research (7/4/16)
"Assuming no material purchases of additional streams (which is unlikely), we forecast a value per share for Silver Wheaton Corp. of US$37.62, or C$48.27, in FY19 (at silver and gold prices of US$26.57/oz and US$1,483/oz, respectively). At a share price of C$27.16, this represents a total internal rate of return to investors of 26.2% in US dollar terms. . .Silver Wheaton is trading on near-term financial ratios that are cheaper than those of its royalty/streaming peers."

Tony Lesiak, Canaccord Genuity (6/17/16)
"We recently visited Vale's Salobo mine in Brazil; while the operation showed extremely well, the key takeaway was that Vale is not maximizing the potential of this world-class orebody at the current processing rate. Phase 3 seems very plausible with permits already in hand and almost half of the capital coming from Silver Wheaton Corp. . .we see strong potential for Salobo to see a phase 4 expansion (to 48 mtpa). . .an ultimate expansion to 48 Mtpa using only existing reserves/resources would trigger the maximum payout and would generate a 7.5% IRR to SLW at spot gold."

Luke Burgess, Energy and Capital (5/29/16)
"Silver Wheaton Corp. is actually the world's largest precious metal streaming company in the world by market cap. . .it derives approximately 60% of its revenue from the sale of silver and approximately 40% of its revenue from gold sales. . .the company currently has 20 precious metal purchase agreements with 15 operating partners, including majors like Barrick Gold and Goldcorp. Along with most other gold and silver–focused companies, Silver Wheaton has pulled back a bit from a 52-week high at the end of April, but I expect to see shares pop back over $20 in short order."

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."

More Expert Comments

Experts Following This Company

Jay Albany, Healthcare Analyst – SeeThruEquity
Ralph Aldis, Portfolio Manager, Gold and Natural Resources – U.S. Global Investors
John Bridges, Analyst – J.P. Morgan
Luke Burgess – Hard Money Millionaire
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
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
Phil Russo, Research Associate – Raymond James
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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