Silver Wheaton Corp (SLW) has risen sharply, recording gains of 11.89% in the past 4 weeks. However, the stock has corrected -3.97% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 11.47% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Silver Wheaton Corp. is up 52.95% in the last 3-month period. Year-to-Date the stock performance stands at 136.88%. The stock has recorded a 20-day Moving Average of 1.44% and the 50-Day Moving Average is 14.37%.
Silver Wheaton Corp (NYSE:SLW): The stock opened at $29.95 on Friday but the bulls could not build on the opening and the stock topped out at $30.18 for the day. The stock traded down to $29.20 during the day, due to lack of any buying support eventually closed down at $29.26 with a loss of -4.35% for the day. The stock had closed at $30.59 on the previous day. The total traded volume was 6,186,747 shares.
Also, JP Morgan maintains their rating on the shares of Silver Wheaton Corp (NYSE:SLW). The current rating of the shares is Neutral. Equity Analysts at the Firm raises the price target to $23 per share from $22 per share. The rating by the firm was issued on August 15, 2016.
Silver Wheaton Corp. (Silver Wheaton) is a Canada-based mining company. The Company is engaged in pure precious metals streaming and generates its revenues from the sale of silver and gold. As of December 31, 2014, Silver Wheaton had entered into 18 long-term purchase agreements and one early deposit long-term purchase agreement associated with silver and gold (precious metal purchase agreements), relating to 27 different mining assets, whereby Silver Wheaton acquired silver and gold production from the counterparties for a per ounce cash payment which was fixed by contract, generally at or below the prevailing market price. As of December 31, 2014, gold and silver interests owned by Silver Wheaton included San Dimas and Penasquito in Mexico; Yauliyacu, Lagunas Norte and Pierina in Peru; 777, Canada; Salobo, Brazil; Sudbury and Minto in Canada; Veladero, Argentina; Zinkgruvan, Sweden, and Neves-Corvo and Aljustrel in Portugal.