Wed, Nov. 4, 5:30 AM
Tue, Nov. 3, 5:35 PM
- Silver Wheaton (NYSE:SLW) agrees to acquire future silver output from Glencore's (OTCPK:GLCNF, OTCPK:GLNCY) stake in the Antamina copper mine in Peru for $900M cash.
- As part of the streaming deal, SLW also will make ongoing payments of 20% of the spot price for silver for every ounce of metal delivered.
- SLW says the deal immediately increases its production and cash flow profile by adding expected average silver production of 5.1M oz./year in 2016 and 2017, and 4.7M oz./year over the first 20 years.
Tue, Nov. 3, 5:34 PM
Tue, Nov. 3, 5:25 PM
Mon, Nov. 2, 5:35 PM
- ACHC, AFG, AIV, AMSG, ASH, ATVI, AWR, BIO, BKH, CBPO, CBS, CERN, CHEF, CHUY, CIM, CKP, CSU, CSV, CVC, DAC, DENN, DHT, DK, DKL, DVA, DVN, ECYT, ENPH, ENSG, EPIQ, ETSY, EVRI, FANG, FARO, FIVN, FLTX, FMI, FOGO, GHDX, GMED, GRPN, HCI, HL, HLF, HRZN, IAG, IPHS, IRWD, ITRI, IVR, JCOM, KEG, LLNW, MPO, MTZ, MXL, MYGN, NFX, NYMT, OAS, OCLR, OESX, OFIX, OKE, OKS, ORA, PAA, PAGP, PAYC, PBPB, PKD, QUAD, REGI, RIGL, RLOC, RP, RPAI, RXN, SLW, SSNI, SUPN, TDW, TMH, TSLA, TSRA, TX, UNTD, USNA, VNDA, WBMD, WR, WTR, X, XEC, XOXO, XXIA, Y, ZAGG, ZEN, ZNGA
Tue, Oct. 27, 12:58 PM
- Silver Wheaton (SLW +1.2%) is initiated with an Overweight rating and $18 price target at Barclays, citing SLW's high quality stream portfolio that can grow annual earnings and cash flows organically at spot commodity prices.
- SLW also has an improving balance sheet and significant available liquidity, allowing for greater potential growth through acquisitions, the firm says.
- Although the Canada Revenue Agency issue could lead to an overhang on the stock, Barclays believes most of the "worst case scenario" associated with the tax issue already is priced into the stock.
Wed, Oct. 14, 2:26 PM
- Gold settles at three-and-a-half month highs, rallying $14.50 (+1.2%) to $1180/oz., as soft U.S. economic data and concerns over deflationary pressures in China add to expectations the Fed will delay any interest rate increases.
- Gold is gaining more ground in electronic trading after the Fed Beige Book release.
- The yellow metal's eighth gain in nine sessions has sent the SPDR Gold Trust ETF (GLD +1.5%) past its 200-day moving average, and gold miners have ripped higher, as evidenced by this month's 18% gain in the Market Vectors Gold Miners ETF (GDX +5.6%).
- Top mining stocks including Barrick Gold (ABX +7.9%), Goldcorp (GG +8.5%), Kinross Gold (KGC +8.3%), Gold Fields (GFI +5.4%), Newmont Mining (NEM +5.4%), Agnico Eagle Mines (AEM +5.7%), Silver Wheaton (SLW +6.8%), Yamana Gold (AUY +6.7%), Franco Nevada (FNV +5%), Randgold (GOLD +4.8%) and AngloGold (AU +5.6%) are all sharply higher.
- Other ETFs: NUGT, AGQ, GGN, DUST, SIL, USLV, ZSL, UGL, GLDX, DGP, GLL, UGLD, DZZ, SLVO, GLDI, SGDM, DSLV, ASA, SLVP, DGL, DBS, DGZ, RING, DGLD, PSAU, USV, TGLDX, GEUR, UBG, GYEN
Thu, Oct. 1, 4:36 AM
- Looking to reduce its massive debt, Glencore (OTCPK:GLCNF) is in discussions with sovereign-wealth funds and Asian trading houses about selling up to a third of its agricultural business, which could be valued at $12B, the WSJ reports.
- Glencore is also in negotiations over $1.5B in streaming deals in which the company would sell the rights to future royalties from its gold and silver operations in return for cash upfront. Vancouver-based Silver Wheaton (NYSE:SLW) could be a candidate for such deals.
- The potential transactions are part of Glencore's plan to reduce its $30B in net debt by $10B by the end of 2016.
- In South Africa, Glencore is axing another 340 jobs as it shuts depleted coal mines.
- Shares are +5.6% at 96.7 pence in London and have recovered the losses made in Monday's 29% collapse.
Fri, Sep. 25, 8:22 AM
- Silver Wheaton (NYSE:SLW) -2.2% premarket after saying it received reassessment notices from Canada's tax authorities, ordering it to pay C$353M ($265M) in back taxes.
- SLW, which will be required to make a C$177M deposit with the CRA while it pursues a defense, says the notices are consistent with the proposal it had received in July from the CRA to tax ~C$715M of income earned by its foreign units during 2005-10.
- SLW plans to file a notice of objection within the required 90-day period.
Mon, Sep. 21, 7:07 PM
- Silver Wheaton (NYSE:SLW) is actively pursuing $5B in deals as the commodity meltdown pressures other producers into selling some of the most attractive assets that have ever been on the market, CEO Randy Smallwood says.
- SLW is interested in bidding on streams that Glencore may want to sell, the CEO says; earlier this month, Glencore unveiled a $10B plan to cut debt that included selling assets and issuing new shares.
- Smallwood says his company is seeing demand for streaming capital that exceeds the supply of available financing amid the current commodities downturn.
Wed, Sep. 16, 5:45 PM
- Glencore (OTCPK:GLCNF, OTCPK:GLNCY) is in talks with Franco-Nevada (NYSE:FNV), Silver Wheaton (NYSE:SLW), Royal Gold (NASDAQ:RGLD) and two other companies to sell portions of the future production of three South American copper mines, according to a Reuters report.
- The streaming deals are said to involve Glencore's Antamina and Antapaccay copper mines in Peru and its Collahausi mine in Chile, and the talks could expand to include other mines; the copper mines also produce precious metals such as silver and some gold as by-products.
Wed, Sep. 16, 3:45 PM
- Newmont Mining's (NEM +5.8%) stock price target is lowered to $22 from $24 by RBC analysts on the back of downward revisions to base metal price assumptions, including a ~15% reduction to the firm's 2015-19 average copper price assumptions.
- NEM has significant leverage to copper prices through its Batu Hijau, Boddington and Phoenix mines, prompting the firm to reduce its EPS and cash flow/share estimates.
- But for today at least, shares of gold miners are surging, following gold prices higher as optimism grows that the Fed will not raise rates tomorrow: ABX +7%, KGC +9.2%, GG +5.3%, AEM +6.9%, GFI +3%, SBGL +2.4%, FNV +4.7%, NGD +7.1%, AUY +9.1%, IAG +7.6%, BTG +4.1%, EGO +9.7%, SLW +7.1%.
Mon, Sep. 14, 6:57 PM
- Silver Wheaton (NYSE:SLW) +3.6% AH after initiating its first ever normal course issuer bid for 20.23M common shares, representing 5% of total common shares outstanding.
- SLW says its share price "does not currently reflect the high quality asset base underlying the company's robust business model," and that at current prices its shares "may represent the best investment option for our shareholders."
Mon, Sep. 14, 5:39 PM
Tue, Aug. 11, 7:49 PM
- Silver Wheaton (NYSE:SLW) +2.3% AH after a mostly in-line Q2 earnings report, as a higher cost of sales and lower commodity prices sent profit lower by 15% Y/Y but revenues rose 10.7%.
- SLW says it tallied record totals for attributable silver equiv. production of 10.9M oz. (7.2M oz. of silver and 50.5K oz. of gold), up 29% from 8.5M oz. in Q2 2014, and silver equiv. sales volume of 10M oz. (5.6M oz. of silver and 61K oz. of gold), up 34% from 7.5M oz. in the year-ago quarter.
- SLW says its average realized sale price per silver equiv. oz. sold during Q2 fell more than 17% to $16.38.
- Says it expects federal and provincial tax of ~C$190M, resulting from Canada Revenue Agency's proposal to tax ~C$715M of income earned by the company's foreign units during 2005-10.
Tue, Aug. 11, 5:53 PM
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