Seeking Alpha

Silver Wheaton Corp. (SLW)

  • Thu, Mar. 26, 7:15 PM
    • Timmins Gold (NYSEMKT:TGD) calls off a private placement worth up to $10M that had been announced on Feb. 17; the offering was priced at C$1.25/share, but shares currently are trading below C$1.
    • Also today, Orbite Aluminae (OTCQX:EORBF) called off an offering of debentures and warrants that was expected to raise as much as C$15.5M.
    • Six gold companies raised nearly $800M in the span of two days in January, but raising capital has been a challenge ever since; the one major offering that was announced in March - Silver Wheaton’s (NYSE:SLW) $800M bought-deal - was priced too high and led to big losses for the underwriters, and has put a chill in the mining financing market.
    | Thu, Mar. 26, 7:15 PM | 1 Comment
  • Wed, Mar. 18, 6:51 PM
    • Silver Wheaton (NYSE:SLW) expects 43.5M silver equivalent ounces of 2015 production, a 20% Y/Y increase. Silver production is expected to total 26.9M ounces (up from 2014's 25.7M), and gold production 230K ounces (up from 142.8K).
    • The company forecasts 2019 production will total 51M silver equivalent ounces (+40% from 2014 levels), including 325K ounces of gold. Peru's Constancia mine and Brazil's Salobo mine are expected to account for much of the growth.
    • Q4 silver equivalent production fell 8% Y/Y to 9M ounces (6.4M silver, 34.5K gold). However, silver equivalent sales volume rose 7% to 8.5M ounces (5.7M silver, 37.9K gold). With precious metal prices swooning, average realized sale price fell 22% to $16.43 - silver was at $16.46/oz., and gold at $1,213/oz.
    • On a silver equivalent basis, average cash costs fell $0.19 Y/Y to $4.51/oz. - silver was at $4.13, and gold at $391. Op. cash flow fell 27% to $94.1M.
    • SLW -1.1% AH to $18.81.
    • Q4 results, dividend cut, PR
    | Wed, Mar. 18, 6:51 PM | 5 Comments
  • Wed, Mar. 18, 5:13 PM
    • Silver Wheaton (NYSE:SLW) declares $0.05/share quarterly dividend, -16.7% decrease from prior dividend of $0.06.
    • Forward yield 1.05%
    • Payable April 14; for shareholders of record March 31; ex-div March 27.
    | Wed, Mar. 18, 5:13 PM | 5 Comments
  • Wed, Mar. 18, 5:06 PM
    • Silver Wheaton (NYSE:SLW): Q4 EPS of $0.14 misses by $0.01.
    • Revenue of $140.4M (-16.1% Y/Y) misses by $11.18M.
    • Shares +0.32% AH.
    • Press Release
    | Wed, Mar. 18, 5:06 PM | Comment!
  • Tue, Mar. 17, 5:35 PM
  • Fri, Mar. 6, 2:42 PM
    | Fri, Mar. 6, 2:42 PM | 83 Comments
  • Wed, Mar. 4, 10:26 AM
    • Canadian banks are getting nervous as they struggle to find buyers for Silver Wheaton's (SLW -1.2%) $800M bought deal financing, Financial Post reports, as the company's stock continues to trade below the offer price.
    • Sources say a very large portion remains unsold, with one describing the deal as a "train wreck.”
    • The bought deal, announced Monday after the close, was priced at US$20.55/share, representing a 3% discount to SLW’s closing price that day.
    • This is the third time in recent months where banks had trouble selling a very large mining stock offering, following Barrick Gold and Franco Nevada offerings that proved to be tough sells; FP says it shows that investor appetite for these stocks is not endless amid rough market conditions.
    | Wed, Mar. 4, 10:26 AM | 8 Comments
  • Mon, Mar. 2, 5:19 PM
    • Silver Wheaton (NYSE:SLW) -3% AH after agreeing to sell ~$800M of stock to fund its purchase of an additional supply of gold from a Vale's (NYSE:VALE) Salobo mine in Brazil.
    • SLW says it will use the proceeds of the offering to fund its acquisition of an additional 25% gold stream from the mine, which is in addition to the 25% of the mine's gold production SLW acquired in 2013.
    • The deal raises SLW’s production and cash flow profile by adding expected average gold production of 70K oz./year for the first 10 years and 60K oz./year over the first 30 years.
    | Mon, Mar. 2, 5:19 PM | 21 Comments
  • Thu, Jan. 15, 12:35 PM
    • Gold, silver, platinum and palladium are spiking today on Switzerland's surprise move to abandon its currency floor, and shares of the miners are following suit: GDX +6.1%.
    • "Gold is much stronger as the 'safety' of the Swiss Franc vanishes,” commented Dave Lutz of JonesTrading.
    • Peter Boockvar believes that in "a world of currency battles with printing presses that are extraordinarily large... gold will be the last man standing... the gold bear market is over and will go substantially higher from here."
    • Against a backdrop of concerns about global growth, deflation and renewed volatility, gold has been climbing since November as other growth-sensitive commodities such as oil and copper have sold off.
    • Among precious metals miners: BTG +9.5%, GG +8.9%, KGC +8.7%, NEM +8.3%, AUY +8.1%, EGO +7.4%, AGI +7%, ABX +6.2%, NG +5.9%, AUQ +5.6%, FNV +5.5%, RGLD +5.4%, IAG +4.8%, GFI +4.2%, HL +4.2%, SLW +3.1%.
    | Thu, Jan. 15, 12:35 PM | 36 Comments
  • Tue, Jan. 6, 5:45 PM
    • Silver Wheaton's (NYSE:SLW) amended agreement with Barrick Gold (NYSE:ABX) to receive silver from the Pascua-Lama mine benefits both companies, Cowen analysts say, helping ABX conserve cash while allowing SLW to hold optionality at $1,200/oz. gold.
    • For ABX, the new deal provides three additional years to repair its balance sheet, find alternative financing, or wait for a higher gold price, as well as delaying the potential impact of a multimillion dollar payout to SLW; in return, SLW will maintain its optionality in Pascua-Lama, which - if the mine ever achieves production - could provide nearly 60M additional silver oz. over the asset’s first 10 years of mine-life at a cost of ~$4/oz.
    • J.P. Morgan says the deal should have no material impact on ABX’s valuation since Pascua-Lama is seen by the market as an out-of-the-money option to which little value is assigned for now.
    | Tue, Jan. 6, 5:45 PM | Comment!
  • Tue, Jan. 6, 3:33 PM
    | Tue, Jan. 6, 3:33 PM | 42 Comments
  • Mon, Jan. 5, 5:30 PM
    • Early-year pain for stocks has meant gain for gold, as February gold rose 1.5% today to settle at $1,203.90/oz., its best level in three weeks, as concerns about political upheaval in Greece and falling crude prices sparked a flight from risky assets; silver added $0.46 to $16.23.
    • Rising gold prices also lifted shares of miner stocks, sending the Market Vectors Gold Miners ETF (NYSEARCA:GDX) +2.6% while the Market Vectors Junior Gold Miners ETF (NYSEARCA:GDXJ) +4.3%.
    • Gainers included IAG +7.4%, HL +3.1%, GOLD +2.4%, KGC +1.7%, NG +8.4%, EGO +4.7%, EXK +4.8%, RGLD +2.4%, CDE +2.6%, FNV +5.3%, SLW +1%, PAAS +3.3%, AG +6.1%, SVM +2.9%.
    • Of course, two days of gains in 2015 hardly make up for two years of declines, and Barron’s Michael Kahn is among observers suggesting that investors wait for clearer signs of progress before making a move.
    | Mon, Jan. 5, 5:30 PM | 9 Comments
  • Mon, Jan. 5, 10:25 AM
    • Silver Wheaton (SLW -0.3%) says it has again extended a silver streaming agreement related to Barrick Gold's (ABX -2%) halted Pascua-Lama project, giving it another 15 months of silver production from three of ABX’s other projects.
    • SLW’s streaming agreement for Pascua-Lama started in 2009, when it agreed to buy 25% of the silver production from the project plus 100% of the production from ABX’s Lagunas Norte, Pierina and Veladero mines; when ABX suspended construction of Pascua-Lama to cut costs amid slumping gold prices, SLW began receiving additional production from the other three ABX mines.
    • SLW now will be entitled to additional production from the three mines until March 2018.
    | Mon, Jan. 5, 10:25 AM | Comment!
  • Dec. 26, 2014, 3:34 PM
    | Dec. 26, 2014, 3:34 PM | 28 Comments
  • Dec. 1, 2014, 4:45 PM
    • Gold futures surged 3.6% to reclaim the $1,200 level for the first time since late October, sparked in part by the downgrade of Japan’s sovereign debt rating and a retreat in the dollar, as well as India easing its import restrictions and some short covering.
    • Gold had sold off initially amid news that Swiss voters rejected a referendum to force the Swiss National Bank to hold 20% of its reserves in gold, slumping to overnight lows near $1,140/oz. before rallying to settle at $1,218.
    • As a result, gold miners were among the strongest sectors, with the Market Vectors Gold Miners ETF (NYSEARCA:GDX) finishing 7.7% higher; investors also may have reacted to takeover speculation, as weekend reports said Paramount Gold (NYSEMKT:PZG) was is in talks to be acquired by Coeur Mining (NYSE:CDE).
    • Among the top precious metals miners: ABX +4.3%, AEM +6.9%, AU +9.1%, GG +8.2%, GFI +9.2%, SLW +7.2%, NEM +6.8%, AGI +7.7%, IAG +11.3%, AUY +7.4%, KGC +8.5%, NGD +13.7%, GOLD +6.4%, RGLD +7%.
    | Dec. 1, 2014, 4:45 PM | 14 Comments
  • Nov. 28, 2014, 1:21 PM
    • Already hit hard over the last two years by declining prices, gold and silver miners saw more pain today as commodity stocks in general got hammered thanks to OPEC's decision not to slash crude production.
    • Decliners: ABX -8%. GG -6.1%. AUY -9.8%. KGC -8.2%. GFI -9.9%. SLW -7%. NEM -5.8%. AGI -6.9%. PAAS -9%. AG -15.4%. SSRI -11.6%. CDE -11.4%. HL -8.8%. TAHO -7.8%.
    • Previous: Precious metals slide alongside oil; Swiss vote ahead
    | Nov. 28, 2014, 1:21 PM | 12 Comments
Company Description
Silver Wheaton Corp is a mining company engaged in sale of silver and gold.
Industry: Silver
Country: Canada