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$9035.6m
Last closeC$22.36
High / Low (52 weeks)C$ / C$
Stock market listingCN, US
Forecast net debt (US$m)409.1
Forecast gearing ratio (%)9
TeamResources - Mining

Price performance

Relative *(4.1)(8.1)(14.9)

* % Relative to local index

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Company news

Silver Wheaton Corp. Is 1 Company I Can Get Behind

Fri, 26 Jun 2015 14:53:46 GMT

Value Investors: Should You Buy Cameco Corporation or Silver Wheaton Corp.?

Thu, 25 Jun 2015 17:37:30 GMT

Silver Wheaton Corp. (USA)(SLW): Why You Should Add This Stock To Your ...

Tue, 26 May 2015 19:52:30 GMT

Silver Wheaton Corp.: Is Now the Time to Buy?

Mon, 15 Jun 2015 19:07:30 GMT

Is Now the Time to Buy Silver Wheaton Corp.?

Thu, 28 May 2015 14:26:15 GMT

Investment summary

Silver Wheaton’s Q115 results were characterised by strong performances at San Dimas, Barrick, Sudbury and Salobo, such that silver-equivalent production exceeded 10Moz for the first time ever. Performance in FY15 will be weighted towards H215 under the influence of Constancia and Salobo in particular. Production over the following two years will then be driven by an increase in throughput from 2,500tpd to 3,000tpd at San Dimas and the Metallurgical Enhancement Project feasibility study at Penasquito. Beyond such organic growth, Silver Wheaton has access to up to c US$1.3bn in readily available funds (plus future cash flows) to make additional, future, accretive acquisitions.

Last updated on 29/06/2015

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 17.1 11.9
2014A 620.2 431.2 268.8 75.0 24.1 15.0
2015E 768.1 545.5 355.4 87.0 20.8 12.5
2016E 1104.5 826.4 573.8 142.0 12.7 8.8

Last updated on 23/06/2015

Latest research

Q115 results and Q2-Q415 preview

Update | Mining | 26/05/2015

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

We are forecasting EPS of US$1.68 in FY19 and a share price of US$42.38 (C$51.61). In the meantime, Silver Wheaton trades on multiples that are consistently cheaper than its royalty ‘peers’ and more akin to (and sometimes cheaper than) mining companies themselves, despite being associated with materially less risk.

Last updated on 29/06/2015

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
V6C 2X8
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