Silver Wheaton Corp.NYSE
Tue, Oct. 4, 2:20 PM
- Precious metals miners are slammed as gold prices dip well below $1,300/oz. to settle at $1,269.70, its lowest since the U.K.'s Brexit vote in June, as upbeat U.S. manufacturing data yesterday has stoked expectations of higher interest rates.
- Gold is “falling off the cliff,” says Naeem Aslam, chief market analyst at ThinkMarkets. “Traders are buying the equity market with both hands, especially over in the U.K.” as the British pound declines.
- Among precious metals miners today: ABX -9.2%, KGC -10.4%, GG -7.8%, NEM -8.7%, EGO -7.4%, RGLD -7.8%, AEM -8.9%, NG -9.7%, SLW -9.1%, FNV -5.6%, IAG -11.2%, GOLD -8.1%, AU -9.3%, GFI -6.4%, SBGL -8.1%, HMY -9.9%, AUY -11.6%, BTG -9.3%, NGD -6.6%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, SILJ, RING, PSAU, SGDJ, TGLDX, GDJJ, GDXX, GDXS
Wed, Sep. 21, 5:55 PM
- Newmont Mining (NYSE:NEM) was today's best-performing stock in the S&P 500 and precious metals miners gained across the board, enjoying a big boost from the Fed’s decision to keep interest rates unchanged.
- NEM even outperformed the VanEck Vectors Gold Miners ETF (NYSEARCA:GDX) - +7.5% vs. +7% - and Credit Suisse analysts say business in looking up for the miner, as NEM continues to meet or beat cost and production targets, as well as strengthen its portfolio.
- The firm adds that NEM believes shareholders appreciate its predictability, discipline and defining growth based on free cash flow rather than production.
- Also today: ABX +8.6%, GG +7%, AEM +7.1%, EGO +5.7%, KGC +7.6%, SLW +7.8%, FNV +4.8%, RGLD +9.6%, IAG +7.9%, GOLD +4.7%, AU +10.4%, GFI +9%, SBGL +9.5%, HMY +11.8%, AUY +7.6%, BTG +6.3%, NG +8.1%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
Wed, Sep. 21, 10:59 AM
- Silver Wheaton (SLW +2.6%) is eager to explore more streaming transactions with small mining exploration companies, CEO Randy Smallwood tells the Denver Gold Forum.
- The CEO says he "would love to get some more on the books just because of the optionality they provide," referring to the potential for big financial gains for SLW from a small investment of typically less than $20M, if the exploration company finds a big mineral deposit.
- Smallwood says there is ~$2B worth of streaming deals up for grabs in the market, although that is down from as much as $5B a year ago, as the rally in precious metals prices this year has cooled miners' appetite for streaming finance as share issues and other forms of funding have become available.
Fri, Sep. 9, 12:57 PM
- Silver Wheaton (SLW -3.6%) is started with a Buy rating and $37 price target at Deutsche Bank, but shares are sharply lower as natural resource stocks are broadly lower today.
- Deutsche Bank says SLW enjoys a strong cash flow and is adding eight projects in its portfolio to 22 existing operations; as a result, the firm sees silver equivalent production reaching 54.7M oz. in the current year and 57M oz. next year.
- The firm notes that SLW generates ~60% of revenue from silver and ~40% from gold, and has increased the number of assets and regions it is exposed to since 2004, and the company's diversified assets with low operating cost exposure reduce risk compared to peers.
- Concerns about taxes that might be owed to the Canadian Revenue Agency are priced into shares, Deutsche Bank adds.
Wed, Aug. 24, 2:30 PM
- Shares of gold miners are sharply lower as gold futures fall 1.2% to settle at a one-month low $1,329.70/oz., closing below its 50-day moving average for the first time since June 7.
- The top gold miners ETF (GDX -6.3%) trades well below its 50-day moving average of $29.09 and is on pace for its first four-day losing streak since early November.
- Investors are dialing down bullish bets on gold ahead of Friday's scheduled remarks from Janet Yellen, says Peter Hug, global trading director at Kitco Metals.
- Among top mining stocks: ABX -8.4%, NEM -6.7%, GG -8.7%, KGC -9%, AEM -6.3%, SLW -7.3%, RGLD -7.3%, EGO -7.2%, GFI -5.1%, AUY -8.8%, GOLD -5%, HMY -5.7%, SBGL -4.9%, IAG -8.7%, BTG -6.9%, NG -7.3%, FNV -6%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, UGL, DGP, UGLD, GLL, DZZ, SGDM, ASA, SLVP, DGL, RING, DGZ, DGLD, PSAU, TGLDX, UBG, GDXX, GDXS
Thu, Aug. 11, 12:34 PM
- Silver Wheaton (SLW +2.9%) shares run to their highest levels in three years after posting in-line Q2 earnings on a 29% Y/Y revenue increase to a better than expected $212M.
- SLW raises its one-year and long-term gold production guidance, now seeing attributable gold production of 305K oz., up from its previous outlook for 265K oz., and average attributable gold production over the next five years including 2016 of 330K oz./year, up from 260K oz.
- Silver production for 2016 is seen at 32M oz., down from previous guidance of 32.8M oz. due to lower than expected production from the San Dimas and Peñasquito mines; SLW sees annual silver production during 2016-20 remaining unchanged at 31M oz./year.
- SLW says H1 attributable silver sales volumes hit a record 14.7M oz., up 31% Y/Y, while gold sales also reached a record 136K oz. for H1, up 52% Y/Y.
- Operating cash flows for Q1 and H1 were a respective $134M and $248M, 23% and 25% higher than the respective periods during 2015.
Wed, Aug. 10, 5:19 PM
Wed, Aug. 10, 5:01 PM
Tue, Aug. 9, 5:35 PM
Wed, Aug. 3, 11:29 AM
- Silver Wheaton’s (SLW -0.9%) $800M gold acquisition from Vale (VALE +1.5%) shows that metal streaming companies still enjoy buying opportunities despite improving market condition, SLW CEO Randy Smallwood tells Financial Post.
- While the Vale deal is only the second major streaming transaction of the year vs. 11 streaming deals last year worth ~$4.2B, Smallwood says it is a mistake to assume market conditions are working entirely against streaming, as base metal prices remain low and producers of metals such as copper and nickel are still struggling even while gold and silver prices are strong.
- SLW's streaming deal is the third the company has struck on Vale’s Salobo copper mine, and it covers 25% of the gold output; following the three transactions, SLW is now entitled to 75% of the gold from the Brazilian mine, which is expected to produce ~300K oz./year over the next five years.
- SLW also raises its production guidance as a result of the Vale deal, now expecting average attributable gold production of 330K oz./year over the next five years, up from its prior outlook of 260K oz./year; thanks to rising gold and silver prices, SLW now expects more than US$700M of cash flow in 2016 vs. its earlier outlook for US$400M.
Tue, Jul. 5, 12:30 PM
Thu, Jun. 30, 3:47 PM
- IAMGOLD (IAG -0.6%) is upgraded to Neutral from Sell with a $52.25 price target, raised from $3, at Credit Suisse, which raises its forecast for 2016-17 gold prices.
- Credit Suisse now forecasts the gold price to rise through the rest of this year, averaging $1,475/oz. in Q4 2016 and $1,500/oz. in Q1 2017, with an average of $1,450/oz. in 2017 from $1,313/oz. previously.
- On IAG, the firm believes the company is turning the corner on operational and financial delivery following a challenging three-year period, and cites IAG's above-average leverage to gold prices and benefit from cost exposure to the Canadian dollar and euro.
- Credit Suisse also upgrades both Yamana Gold (AUY -0.5%) and Silver Wheaton (SLW +3.1%) to Outperform from Neutral in conjunction with its increased gold price forecast.
Fri, Jun. 24, 8:48 AM
- While stock futures remain under tremendous pressure following the Brexit vote, gold miner shares are soaring in premarket action, as the added uncertainty in the global economy sparks a surge in gold prices.
- The Gold Miners ETF (NYSEARCA:GDX) +9.5% premarket, putting it on course to open at the highest level since July 2014; among GDX's components, Newmont Mining +7.7% toward a three-year high even though NEM derived 64.1% of its revenue over the last 12 months from the U.K., according to FactSet.
- Among other GDX members, Goldcorp (NYSE:GG) +7.5%, Barrick Gold (NYSE:ABX) +9.6% and Yamana Gold (NYSE:AUY) +7.2%.
- Also premarket: KGC +8.9%, GOLD +11.6%, GFI +11.8%, RGLD +10.6%, HMY +11%, SBGL +12.4%, AEM +8.4%, SLW +5.6%, PAAS +6.1%, EGO +8.3%, NG +8.9%, IAG +8.4%, FNV +5%.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
Mon, Jun. 20, 10:22 AM
- Gold futures -0.8% at ~$1,284/oz. after weekend polls showed a higher likelihood that the U.K. would vote to stay in the European Union.
- “This is a market that’s going to be very emotional this week” ahead of the June 23 referendum, says Peter Hug, global trading director at Kitco Metals, who believes that broader economic concerns and low interest rates will continue to support gold prices regardless of the Brexit outcome.
- Gold has risen 21% YTD amid worries over global growth and as the Fed has pushed back plans to raise short-term interest rates.
- Precious metals miners are among the biggest losers in early trading: ABX -3.8%, GG -2.4%, NEM -2.5%, AEM -1.6%, KGC -4.4%, SLW -1.7%, PAAS -2.7%, RGLD -0.8%, EGO -1.4%, NG -1.6%, GFI -4.8%, AUY -1.4%, IAG -1.8%, FNV -1%, HMY -2.3%, SBGL -2.6%, OTCPK:NCMGY -5%.
- ETFs: GLD, SLV, GDX, NUGT, IAU, AGQ, GGN, DUST, PSLV, SIL, PHYS, USLV, SIVR, SGOL, ZSL, GLDX, UGL, DGP, GTU, UGLD, GLL, DZZ, SLVO, SGDM, GLDI, ASA, DSLV, OUNZ, SLVP, DGL, RING, DBS, DGZ, DGLD, PSAU, TGLDX, GYEN, USV, GEUR, UBG
Fri, Jun. 3, 3:58 PM
- Gold miner stocks are skyrocketing, with the sector enjoying its best day in nearly seven years, as the disappointing May jobs report helped spark a strong rally in the yellow metal.
- The VanEck Vectors Gold Miners ETF (GDX +11.1%) surged more than 10% on heavy volume, and all 24 of the ETF’s U.S. equity components traded higher, with 10 of them enjoying double-digit percentage gains.
- In today's trade: ABX +12.9%, NEM +9.5%, GG +7.7%, AEM +11.1%, OTCPK:NCMGY +10.7%, KGC +15.4%, SLW +9%, FNV +9.1%, RGLD +9.4%, EGO +9.8%, GFI +13.7%, SBGL +8.2%, HMY +13%, IAG +16.4%, AU +14.4%, GOLD +8.6%, AUY +13.9%, NGD +9.6%, HL +12.1%, CDE +11.6%, TAHO +10.8%, NG +12.2%, AG +12.3%, PAAS +8.9%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, RING, PSAU, SGDJ, TGLDX, GDXX, GDJJ, GDXS, GDJS
Thu, May 12, 7:19 PM
- BMO Capital becomes more bullish on precious metals, as it upgrades six gold and silver stocks including five to buy ratings.
- The 20% YTD rise in gold and silver prices should continue over the medium term, the firm says, lending to price targets of $1,400/oz. for gold and $22.50/oz. for silver by the end of Q1 2017.
- BMO upgrades Yamana Gold (NYSE:AUY), Silver Wheaton (NYSE:SLW), Coeur Mining (NYSE:CDE), Pan American Silver (NASDAQ:PAAS) and Detour Gold (OTCPK:DRGDF) to Outperform from Market Perform, and hikes Oceana Gold (OTCPK:OCANF) to Market Perform from Underperform; price targets are $5.50 for AUY (raised from $1), $24 for SLW (jumping from $4.50), $11 for CDE (up from $3), and $19 for PAAS (from $7.50).
- However, the firm downgrades Agnico-Eagle Mines (NYSE:AEM), Franco-Nevada (NYSE:FNV) and Fortuna Silver (NYSE:FSM) to Market Perform from Outperform, saying their stocks already have factored in higher gold and silver prices.