Mining company, Silver Wheaton Corp. (SLW) reported increased profits for its fourth quarter, which beat analysts estimates on Friday.
The Vancouver, BC based company reported fourth quarter earnings of $177.7 million, or 50 cents per share, up 18.5% from $144.7 million, or 41 cents per share last year. On average, Wall Street analysts expected to see earnings of 49 cents per share.
Revenue rose by 50% to $287 million, from $192 million last year. Analysts expected to see $259.42 million.
Silver production increased 22% to 8.5 million ounces, from 6.9 million ounces during last year’s fourth quarter.
Looking ahead, the company estimates 53 million ounces of silver equivalent production for 2017. The acquisition of Salobo and Sudbury gold streams which was made in December 2012, is expected to double SLW’s gold production for the next five years.
Silver Wheaton shares were mostly flat during premarket trading Friday. The stock has declined -6% in the past year.
The Bottom Line
Shares of Silver Wheaton Corp. (SLW) have a 0.90% yield, based on Thursday’s closing price of $30.98.
Silver Wheaton Corp. (SLW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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