Silver Wheaton (SLW)

Business description

Silver Wheaton is the pre-eminent pure precious metals streaming company, with more than 25 streaming agreements relating to assets in Mexico, Peru, Canada, Brazil, Chile, Argentina, Sweden, Greece, Portugal, the US and Guyana.

Stock data

Market cap.C$11968.6m
Last closeC$27.11
High / Low (52 weeks)C$39.7 / C$22.8
Stock market listingUS, CN
Forecast net debt (US$m)686.5
Forecast gearing ratio (%)13
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual(3.7)(3.7)14.1
Relative *(3.7)(3.3)2.1

* % Relative to local index

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Company news

Silver Wheaton Corp.: Is it Time to Buy the Dip?

Wed, 26 Apr 2017 16:12:44 GMT

Silver Wheaton Corp. Can Boost Your Portfolio

Tue, 18 Apr 2017 15:22:30 GMT

Could Silver Wheaton Corp. Hit $50 in 2017?

Thu, 13 Apr 2017 13:48:32 GMT

Gold Investors: Is Silver Wheaton Corp. Attractive Today?

Wed, 05 Apr 2017 12:45:00 GMT

Why Silver Wheaton Corp. Shareholders Have Something to Worry About

Tue, 18 Apr 2017 13:41:15 GMT

Investment summary

A mixed performance at Silver Wheaton's silver division in Q416 was trumped by an exceptional performance at its gold division, such that sales and cash flows derived from gold exceeded those from silver for the first time. More significantly, its results materially outperformed both our prior estimates for Q416 as well as SLW’s own production guidance at the time of its Q316 results.

Last updated on 04/04/2017

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2015A 648.7 426.2 223.6 53.0 38.2 18.4
2016A 891.6 602.7 269.8 62.0 32.7 14.3
2017E 879.7 589.9 266.6 60.0 33.8 15.1
2018E 973.0 673.1 391.1 89.0 22.8 13.2

Last updated on 30/03/2017

Latest research

Latest video

Analyst Interview - Silver Wheaton

Industry outlook

Assuming no material purchases of additional streams (which is unlikely), we forecast a value per share for SLW of US$36.66, or C$49.00, in FY20 (at average precious metal prices of US$23.98/oz Ag and US$1,362/oz Au). In the meantime, SLW’s shares are trading on near-term financial measures that are cheaper than those of its royalty/streaming ‘peers’ in at least 83% of instances considered, and the miners themselves in at least 41%, despite being associated with materially less risk. Additional upside exists in the potential expansion of Salobo and the development of Pascu-Lama and Rosemont, among others.

Last updated on 04/04/2017

Key management

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

Company address

Suite 3150
666 Burrard Street
Vancouver
BC
V6C 2X8
Canada
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