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.

Stock data

Market cap.C$10741.6m
Last closeC$24.42
High / Low (52 weeks)C$26.3 / C$14.8
Stock market listingUS, CN
Forecast net debt (US$m)395.8
Forecast gearing ratio (%)8
TeamResources - Mining

Price performance

Relative *11.616.513.5

* % Relative to local index

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Company news

Will Silver Wheaton Corp. Continue to Soar?

Fri, 06 May 2016 17:15:00 GMT

Silver Wheaton Corp.: Has the Rally Just Begun?

Thu, 28 Apr 2016 13:46:44 GMT

Buy Calls for Silver Wheaton Corp. (USA) (NYSE:SLW)

Tue, 03 May 2016 12:56:15 GMT

Silver Wheaton Corp. Is Set up for Growth

Mon, 25 Apr 2016 14:48:45 GMT

Silver Wheaton Corp.: How High Could This Stock Go?

Tue, 19 Apr 2016 16:08:14 GMT

Investment summary

Notwithstanding a maiden contribution from Antamina, a strong performance at SLW's gold division in Q415 was complemented by an equally impressive performance at its silver division, with records set for both production and sales, as each of its cornerstone assets (Salobo, Penasquito, San Dimas and Antamina) performed in tandem. Excluding impairments, Q415 was SLW's best quarter since Q314 (when Ag was US$18.98/oz).

Last updated on 03/05/2016

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2014A 620.2 431.2 268.8 74.0 25.3 15.5
2015A 648.7 426.2 223.6 53.0 35.3 17.0
2016E 835.3 540.7 293.4 68.0 27.5 14.5
2017E 1091.5 794.4 584.2 133.0 14.1 10.3

Last updated on 21/04/2016

Latest research

Buying future growth

Update | Mining | 18/04/2016

Exceeding expectations

Update | Mining | 24/03/2016

Q415e results, Cotabambas analysis and CRA

Update | Mining | 15/02/2016

Q3 results and Antamina stream purchase

Update | Mining | 11/11/2015

Tax and other matters

Update | Mining | 22/10/2015

Tax developments and revised forecasts

Update | Mining | 09/07/2015

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

Latest video

Analyst Interview - Silver Wheaton

Industry outlook

We have updated our forecasts to reflect the effects of SLW's bought-deal, which raised US$632.5m via the issue of 38.1m shares in April. Contingent on eventual success against the CRA, we forecast a value per share for SLW of US$42.30, or C$54.40, in FY19, representing a total IRR to investors of c 42% in US$ terms over four years. In the meantime, SLW is trading on near-term financial ratios that make it the cheapest of its peers and, frequently, cheaper than the miners themselves, despite being associated with materially less risk. NB Q1 results are scheduled for 9 May.

Last updated on 03/05/2016

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
V6C 2X8
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