Canaccord Adams Maintains a 'Buy' on Silver Wheaton (SLW); Raises Price Target
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Canaccord Adams maintains a 'Buy' rating on Silver Wheaton (NYSE: SLW), raises price target to $18.25 from $16.
Canaccord analyst says, "Silver Wheaton reported Q3/09 EPS of $ 0.11 vs. our estimate of $0.10 and consensus of $0.11, with the variance from our estimate explained by a higher realized silver price ($15.14/oz vs. our estimate of $14.75/oz) and lower than expected depreciation and G&A expenses partially offset by lower silver sales. Attributable sales during the quarter were 3.974 Moz Ag and 9,853 oz Au vs. our estimate of 4.506 Moz Ag and 6,086 oz Au. The shortfall in sales was primarily driven by lower attributable silver sales from Luismin, Stratoni and other assets (including La Negra, Mineral, Park and Neves Corvo)."
"Our 2009 sales estimate of 14.97 Moz Ag is below production guidance of 16.0 Moz as it excludes approximately 1 Moz Ag eq attributable production not yet delivered, due to uncertainty regarding the timing of shipments. Our 2009 EPS estimate has been revised to $0.34 (from $0.33) largely due to a higher reported EPS this quarter...Next catalyst: Commercial production from Penasquito (Q1/10)."
To see more analyst ratings on SLW Click Here.
Silver Wheaton Corp. operates as a silver streaming company.
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silver the one
mark s on Nov 10, 2009 06:38 PMI have played in the silver for many years and I believe its happening now just a gut feeling grab some and hang on for the ride.