Silver Wheaton Corp (NYSE:SLW) has tumbled 1.37% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 9.36% in the last four weeks. The stocks have underperformed the S&P 500 by 0.18% during the past week but Silver Wheaton Corp (NYSE:SLW) it has outperformed the index in 4 weeks by 8.36%.
Silver Wheaton Corp (NYSE:SLW): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $21.13 and $20.63 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.51. The buying momentum continued till the end and the stock did not give up its gains. It closed at $20.92, notching a gain of 0.67% for the day. The total traded volume was 7,719,453 . The stock had closed at $20.78 on the previous day.
The company shares have rallied 14.69% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $22.19 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $19.64 and the 200 Day Moving Average price is recorded at $15.98.
Many analysts have stated their opinion on the company shares. Equity Analysts at the BMO Capital upgrades the rating on Silver Wheaton Corp (NYSE:SLW). The brokerage firm has issued a Outperform rating on the shares. The shares were previously rated Market Perform. The rating by the firm was issued on May 12, 2016. Institutional Investors own 50.06% of Silver Wheaton Corp shares.
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.