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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 43.5 million silver equivalent ounces, including 230,000 ounces of gold. By 2019, estimated annual attributable production is anticipated to increase significantly to approximately 51 million silver equivalent ounces, including 325,000 ounces of 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 (5/26/15)
"Silver Wheaton Corp.'s Q1/15 results were characterized by strong performances at San Dimas, Barrick and Sudbury, while production at Salobo more than doubled (consistent with its ramp-up and increased Silver Wheaton interest). . .the company's silver-equivalent production exceeded 10 Moz for the first time ever. . .a decline in sales of $9.9M compared to Q4/14 was more than offset by a $11.0M decline in costs. . .our production and financial forecasts remain little changed. . .we predict a value of $42.38 per share in FY19, representing a total internal rate of return to investors at the current share price of 26.8% over five years."

Ash Guglani, Salman Partners (5/8/15)
"Silver Wheaton Corp. reported its Q1/15 results. . .production numbers of silver and gold were in-line with our estimates; however, the company reported lower sales in Q1/15. Silver Wheaton expects sales to exceed production throughout the rest of the year. We also estimated slightly lower cash margins. . .at Primero Mining Corp.'s San Dimas mine, a quarterly record production of 2,931 tpd was achieved in Q1/15. . .HudBay Minerals Inc.'s Constancia mine achieved commercial production on April 30, 2015. . .we maintain our Top Pick recommendation and target price of CA$31.00 per share."

Phil Russo, Raymond James (5/8/15)
"Production results were strong for Silver Wheaton Corp. in Q1/15. . .total silver-equivalent production during the quarter was 10.4 Moz, 13% above our 9.2 Moz estimate, driven by higher-than-expected silver-equivalent ounces from San Dimas, as the mill achieved higher-than-nameplate capacity for the quarter, and from Sudbury, which experienced higher grades."

Andrew Kaip, BMO Capital Markets (5/7/15)
"Silver Wheaton Corp.'s Q1/15 earnings per share were broadly in-line with expectations. Lower-than-expected sales were offset by lower cost of sales and depreciation. The company indicated that lagging sales volumes were a function of timing differences and it expects to see higher sales through the balance of 2015. . .the Constancia mine achieved commercial production status on Apr. 30, 2015. We estimate that Silver Wheaton is poised to deliver on approximately 17% silver-equivalent production growth over 2015 due largely to the ramp-up at Constancia and amended gold streaming agreement on the Salobo mine."

"Silver Wheaton Corp. has been very aggressive and has royalties on some very good projects, including Peñasquito. It has been dealing with a tax problem in Canada, but I think that will be resolved this year. It does have debt, but this company is a very good buy today. . .it is already moving into gold. Its most recent deal was buying an additional 25% stream of Vale S.A.'s Salobo mine in Brazil for $900M. That was a very big deal for Silver Wheaton and pleases us because we prefer gold streaming to silver streaming." read more >

Trefis (5/4/15)
"Silver Wheaton Corp. will release its first-quarter results on May 7. . .production volumes are likely to be boosted by the signing of a streaming agreement for an additional 25% of the gold by-product stream produced at Vale S.A.'s Salobo copper mine in Brazil. . .partially offset by lower production volumes from the San Dimas, Campo Morado and Keno Hill mines. . .the prevailing subdued commodity pricing environment presents an opportunity to the company for the acquisition of more precious metal streams. . .there is clearly significant growth potential in the silver streaming space for the market leader, Silver Wheaton."

More Expert Comments

Experts Commenting on This Company

Mary Anne Aden, Co-Editor and Publisher – Pamela Aden Research
Pamela Aden, Co-Editor and Publisher – Aden Forecast
Ralph Aldis, Portfolio Manager, Gold and Natural Resources – U.S. Global Investors
John Bridges, Analyst – J.P. Morgan
Doug Casey, CEO / Chair – Casey Research
Cosmos Chiu, Executive Director of Precious Metals Equity Research – CIBC World Markets
Jeff Clark, Senior Editor – Casey Research
Adrian Day, Founder – Adrian Day Asset Management
Charles Gibson, Director, Mining – Edison Investment Research
Michael Gray, Analyst – Macquarie Capital Markets
Doug Groh, Senior Research Analyst – Tocqueville Asset Management L.P.
Ash Guglani, Analyst – Salman Partners
John Hathaway, Senior Managing Director – Tocqueville Asset Management L.P.
Frank Holmes, Chairman – U.S. Global Investors
Michael Jalonen, Precious Metals Analyst – Merrill Lynch
Louis James, Analyst – Casey Research
Andrew Kaip, Analyst – BMO Capital Markets
Edward Karr, Chief Executive Officer – RAMPartners S.A.
Pierre Lassonde, President – Franco-Nevada Corp.
Chris Mancini, Research Analyst – Gabelli Gold Fund
David Morgan, Publisher – Silver Investor
Shane Nagle, Analyst – National Bank Financial
Charles Oliver, Senior Portfolio Manager – Sprott Asset Management
Björn Paffrath, Director – Stabilitas-Fonds
Gwen Preston, Founder – Resource Maven
Ralph Profiti, Analyst – Credit Suisse
Sean Rakhimov, Editor – Silver Stategies
Dan Rollins, Analyst – RBC Capital Markets
Rick Rule, Chairman – Sprott Global Resource Investments Ltd.
Phil Russo, Research Associate – Raymond James
David H. Smith, Analyst – Silver-Investor.com
Alex Terentiew, Mining Analyst – Raymond James
Trevor Turnbull, Analyst – Scotia Capital

The information provided above is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
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