Silver Wheaton (SLW)

Business description

Silver Wheaton (SLW) is the world’s pre-eminent pure precious metals streaming company with 24 precious metals streaming agreements relating to assets in Mexico, Peru, Canada, Brazil, Chile, Argentina, Sweden, Greece, Portugal, the US and Guyana.

Share price chart

Share chart

Stock data

Market cap.C$10268.5m
Last closeC$23.83
High / Low (52 weeks)C$ / C$
Stock market listingCN, US
Forecast net debt (US$m)348.2
Forecast gearing ratio (%)7
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual(5.1)7.2(9.8)
Relative *(3.7)3.8(13.3)

* % Relative to local index

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Company news

Is Sandstorm Gold Ltd. the Next Silver Wheaton Corp.?

Wed, 25 Mar 2015 12:45:00 GMT

Believe in Silver? Buy Silver Wheaton Corp.

Thu, 26 Mar 2015 15:22:30 GMT

Should You Add Silver Wheaton Corp. to Your Portfolio?

Thu, 12 Feb 2015 19:18:45 GMT

Read This Before You Buy Another Mining Stock: Silver Wheaton Corp. and ...

Wed, 24 Dec 2014 12:44:33 GMT

Silver Wheaton Corp. vs Goldcorp Inc: Which Is the Best Investment?

Fri, 23 Jan 2015 17:26:15 GMT

Investment summary

Silver Wheaton’s net earnings in both Q414 and FY14 were closely in line with our expectations, at US$52.0m (vs US$52.1m forecast) and US$268.0m (vs US$268.0m, respectively) after record full-year silver equivalent oz sales. In simple terms, a slightly better performance (cf expectations) by its silver producing interests in Q4 offset a slightly worse one at its gold producing interests. In addition, earnings benefited from a decline in both the cost of sales and depletion compared with Q3.

Last updated on 27/03/2015

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2013A 706.5 531.8 381.6 106.0 17.8 12.4
2014A 620.2 431.2 268.8 75.0 25.2 15.6
2015E 811.8 566.9 358.0 90.0 21.0 12.4
2016E 1104.5 820.7 568.5 141.0 13.4 9.3

Last updated on 27/03/2015

Latest research

Solid FY14 portends future growth

Update | Mining | 27/03/2015

Salobo stream acquisition

Update | Mining | 05/03/2015

Daily comment

Institutional Comment | Mining | 21/01/2015

Q414 and FY14 results preview

Update | Mining | 19/01/2015

Daily comment

Institutional Comment | Mining | 19/11/2014

Q314 results

Update | Mining | 18/11/2014

Daily comment

Institutional Comment | Mining | 04/11/2014

Q314 results preview

Update | Mining | 03/11/2014

Equity and earnings outperform metal

Update | Mining | 21/08/2014

A precious alternative

Initiation | Mining | 10/06/2014

Growing streaming opportunities

QuickView | Mining | 02/12/2013

Latest video

Analyst Interview - Silver Wheaton

Industry outlook

Taking into account likely future streaming agreements, we conservatively forecast a share price of US$36.92 (C$44.19) in FY19, thereby offering investors a 21.1% IRR in US$ terms over four years. In the meantime, SLW trades on multiples that are consistently cheaper than its royalty ‘peers’ and more akin to (and sometimes cheaper than) its operating contemporaries, despite being associated with materially less risk.

Last updated on 02/03/2015

Key management

Randy V. J. Smallwood , CEO
Gary D. Brown , CFO
Patrick Drouin , Head of IR
Rory Quinn , IR

Company address

Suite 3150
666 Burrard Street
Vancouver
BC
V6C 2X8
Canada
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