Today, National Bank Financial Downgrades Silver Wheaton Corp. (SLW) to Sector Perform

Today, National Bank Financial Downgrades Silver Wheaton Corp. (SLW) to Sector Perform

Silver Wheaton Corp. (NYSE:SLW) was downgraded by stock analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Thursday. They presently have a $37.00 price target on the mining company’s stock, down from their previous price target of $43.00. National Bank Financial’s price target would indicate a potential upside of 61.85% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. RBC Capital Markets reiterated an “outperform” rating on shares of Silver Wheaton Corp. in a report on Sunday, October 2nd. Deutsche Bank AG assumed coverage on shares of Silver Wheaton Corp. in a research report on Friday, September 9th. They set a “buy” rating and a $37.00 target price on the stock. Zacks Investment Research downgraded shares of Silver Wheaton Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, September 8th. JPMorgan Chase & Co. reissued 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. Finally, TD Securities reissued 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. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $31.00.

Silver Wheaton Corp. (NYSE:SLW) opened at 22.86 on Thursday. The company’s market cap is $10.06 billion. The company’s 50-day moving average is $26.19 and its 200-day moving average is $23.26. 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 announced its quarterly earnings data on Wednesday, August 10th. The mining company reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. Silver Wheaton Corp. had a negative net margin of 21.75% and a positive return on equity of 4.77%. The company earned $212 million during the quarter, compared to analyst estimates of $198.91 million. During the same quarter last year, the business posted $0.13 EPS. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. On average, equities research analysts expect that Silver Wheaton Corp. will post $0.72 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. BTR Capital Management Inc. boosted its stake in shares of Silver Wheaton Corp. by 110.6% in the third quarter. BTR Capital Management Inc. now owns 31,800 shares of the mining company’s stock valued at $860,000 after buying an additional 16,700 shares during the last quarter. MSI Financial Services Inc boosted its stake in shares of Silver Wheaton Corp. by 4.9% in the third quarter. MSI Financial Services Inc now owns 15,115 shares of the mining company’s stock valued at $409,000 after buying an additional 702 shares during the last quarter. Prospera Financial Services Inc boosted its stake in shares of Silver Wheaton Corp. by 4.7% in the third quarter. Prospera Financial Services Inc now owns 9,002 shares of the mining company’s stock valued at $243,000 after buying an additional 402 shares during the last quarter. British Columbia Investment Management Corp boosted its stake in shares of Silver Wheaton Corp. by 1.7% in the third quarter. British Columbia Investment Management Corp now owns 67,600 shares of the mining company’s stock valued at $1,390,000 after buying an additional 1,100 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Silver Wheaton Corp. by 169.4% in the third quarter. Advisory Services Network LLC now owns 78,064 shares of the mining company’s stock valued at $2,110,000 after buying an additional 49,089 shares during the last quarter. Institutional investors and hedge funds own 50.88% of the company’s stock.

Silver Wheaton Corp. Company Profile

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