Confluence Investment Management LLC decreased its position in Silver Wheaton Corp. (NYSE:SLW) by 13.4% during the second quarter, Holdings Channel reports. The fund owned 16,716 shares of the mining company’s stock after selling 2,594 shares during the period. Confluence Investment Management LLC’s holdings in Silver Wheaton Corp. were worth $393,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of SLW. Arrowgrass Capital Partners US LP purchased a new stake in shares of Silver Wheaton Corp. during the first quarter worth approximately $53,056,000. Norges Bank purchased a new stake in shares of Silver Wheaton Corp. during the fourth quarter worth approximately $37,883,000. Ruffer LLP boosted its stake in shares of Silver Wheaton Corp. by 99.7% in the first quarter. Ruffer LLP now owns 4,460,780 shares of the mining company’s stock worth $74,059,000 after buying an additional 2,227,285 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Silver Wheaton Corp. by 330.9% in the first quarter. Wellington Management Group LLP now owns 1,053,191 shares of the mining company’s stock worth $17,462,000 after buying an additional 808,770 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of Silver Wheaton Corp. by 210.1% in the first quarter. BlackRock Group LTD now owns 925,283 shares of the mining company’s stock worth $15,341,000 after buying an additional 626,863 shares during the last quarter. 50.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of Silver Wheaton Corp. (NYSE:SLW) traded down 0.68% during mid-day trading on Thursday, hitting $27.65. The company’s stock had a trading volume of 3,592,080 shares. The company’s market cap is $12.17 billion. The stock has a 50-day moving average of $28.00 and a 200-day moving average of $22.81. Silver Wheaton Corp. has a 12-month low of $10.04 and a 12-month high of $31.35.
Silver Wheaton Corp. (NYSE:SLW) last issued its quarterly earnings data on Wednesday, August 10th. The mining company reported $0.14 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. Silver Wheaton Corp. had a positive return on equity of 4.77% and a negative net margin of 21.75%. The business had revenue of $212 million for the quarter, compared to the consensus estimate of $198.91 million. During the same period in the prior year, the business earned $0.13 earnings per share. The business’s revenue was up 29.3% on a year-over-year basis. On average, equities research analysts forecast that Silver Wheaton Corp. will post $0.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Wednesday, August 24th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.20 annualized dividend and a dividend yield of 0.72%. Silver Wheaton Corp.’s dividend payout ratio is currently -47.62%.
SLW has been the topic of a number of analyst reports. Credit Suisse Group AG raised shares of Silver Wheaton Corp. from a “neutral” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research note on Thursday, June 30th. TD Securities reiterated a “buy” rating and set a $36.00 target price (up previously from $34.00) on shares of Silver Wheaton Corp. in a research report on Saturday, August 13th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $23.00 target price (up previously from $22.00) on shares of Silver Wheaton Corp. in a research report on Monday, August 15th. HSBC reiterated a “buy” rating on shares of Silver Wheaton Corp. in a research report on Thursday, July 7th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $45.00 target price (up previously from $44.00) on shares of Silver Wheaton Corp. in a research report on Saturday, August 13th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $28.15.
Silver Wheaton Corp. Company Profile
Silver Wheaton Corp. (Silver Wheaton) is a mining company. The Company is a pure precious metals streaming company engaged in the sale of silver and gold. It has entered into over 19 long-term purchase agreements and approximately two early deposit long-term purchase agreement associated with silver and gold, relating to over 30 different mining assets, whereby Silver Wheaton acquires silver and gold production at various mines.
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