Stock News Update: Silver Wheaton Corp
Silver Wheaton Corp. (USA) (NYSE:SLW) is expected to report Fourth quarter earnings on Wednesday, January 16, with a conference call scheduled for 11:00AM EST. Silver Wheaton Corp. operates as a precious metals streaming company worldwide. The company has 18 long-term purchase agreements and 1 early deposit long-term purchase agreement associated with silver and gold relating to 27 various mining assets.
EXPECTATIONS: Analysts are looking for earnings per share of $0.13 on revenue of $178.20. The consensus range is $0.10-$0.15 for EPS on revenue of $144.21M-$196.11M. The company has registered negative earnings surprises in three of the last four quarters with an average miss of -27.7%.
LAST QUARTER: Silver Wheaton Corp. reported Q3 EPS of $0.12, missing the consensus estimate of $0.13. Revenue came in at $153.3M, which was below the consensus $169.14M projection. Looking back further, it reported an increase in revenues to $164.4M in Q2 from $130.5M in Q1. The consensus estimate was of $166.66M and $175.11M, respectively.
PRICE ACTION: recently moved to $10.50 and the average price target from Wall Street research analysts covering the stock is $19.70. The share price has dropped -55.99% from its peak and so far in this year moved backward -15.46%. The stock has a market capitalization of $4.29 billion. The company with 5.94 million shares changed hands has PE of 61.76. During the day, the stock touched a high of $10.46 and low of $11.25. In one month, its share price decrease -18.35% and kept distance of -3.14% from worst level in 52 weeks.
Silver Wheaton Corp. on announced that it was providing an update on certain matters relating to the ongoing dispute with the Canada Revenue Agency (the “CRA”).
On January 8, 2016, Silver Wheaton filed a Notice of Appeal with the Tax Court of Canada , electing to pursue resolution of the matters relating to the Notices of Reassessment issued by the CRA for the 2005-2010 taxation years through a judicial court process rather than continue to pursue the CRA’s internal appeals process. This decision was made in accordance with Silver Wheaton’s right to appeal directly to the Tax Court of Canada 91 days after the date of filing a notice of objection.
“We remain confident in, and we intend to vigorously defend, our business structure. We believe that we have complied with Canadian tax law and feel that the court process, rather than the CRA appeals process, will provide the most expeditious avenue for the resolution of this matter,” said Randy Smallwood , President and Chief Executive Officer of Silver Wheaton. “Through this entire process, we continue to believe in the strong underlying value of our shares and continue to be active under our normal course issuer bid program in buying back our shares,” he added.