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| Company Name | Symbol | %Change |
|---|---|---|
| VIASAT INC | VSAT | 19.35% |
| OLD SECOND B | OSBC | 5.76% |
| GAMCO INVEST | GBL | 4.61% |
| CORNING INC | GLW | 4.47% |
| SYNCHRONOSS | SNCR | 4.23% |
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Company Description
Silver Wheaton is the worlds largest metals streaming company in the world. The company has 16 precious metal purchase agreements, 14 of which are silver. SLW does not hedge its long-term exposure.
Record Earnings
On Nov 8 Silver Wheaton announced record earnings of $69.2 million, more than double the $33.6 million a year ago. Earnings broke down to 20 cents a share, which was inline with the Zacks Consensus Estimate.
Silver Wheaton said that due to economic uncertainty the investment demand for silver led to record cash operating margins.
Earnings Keep Doubling
The Zacks Consensus Estimate for this year is up to 74 cents, which is almost double 2009's 38 cents. Forecasts for 2011 are particularly bullish, rising 45 cents in the past 3 months, to $1.46, for a 99% growth rate.
Mining, silver in particular, is red-hot right now. The industry is ranked 13th out of 264 on Zacks.com. Of the 8 in the industry, Silver Wheaton is the 3rd rated.
The Chart
Shares of SLW have been sliding recently, but given the rapidly increasing estimates, this could be a great chance to scoop up this Zacks #1 Rank (Strong Buy) on a dip.
Bill Wilton is the Aggressive Growth Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Small Cap Trader service
Read the full Snapshot Report on SLW