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Silver Wheaton Corp
Silver Wheaton Corp. is a mining company that is listed on the New York Stock Exchange (NYSE) under the ticker symbol "SLW." Here are some key points about the company:
1.What They Do: Silver Wheaton is a silver and gold streaming company. This means that they provide financing to mining companies in exchange for the right to purchase a percentage of their silver and gold production at a fixed price.
2.History: The company was founded in 1983 and has been publicly traded on the NYSE since 1986. Over the years, the company has grown through a series of acquisitions, including the acquisition of Silver Wheaton Gold, a spin-off of Barrick Gold.
3. Operations: Silver Wheaton holds long-term streaming contracts with a number of mining companies, including Barrick Gold, Goldcorp, and Vale. Under these contracts, Silver Wheaton provides upfront financing to the mining companies in exchange for the right to purchase a percentage of their silver and gold production at a fixed price. The company does not have any mining operations of its own and does not carry the typical risks associated with mining, such as operational and environmental risks.
4. Revenue: Silver Wheaton's revenue comes from the sale of the silver and gold it receives under its streaming contracts. The company sells the precious metals at spot prices, which can fluctuate based on market conditions.
5. Profitability: Silver Wheaton has been consistently profitable over the years due to its low costs and high-quality streaming assets. The company's net income for 2020 was $297 million, up from $140 million in 2019.
6. Dividends: Silver Wheaton pays a quarterly dividend to its shareholders, which has been steadily increasing over the years. In 2020, the company paid a total of $1.15 per share in dividends, representing a 23% increase from the previous year.
7. Management: Randy Smallwood has been the President and Chief Executive Officer of Silver Wheaton since 2010. Prior to joining Silver Wheaton, he held senior roles at Barrick Gold and Homestake Mining Company.
8. Ownership: The company's largest shareholders are Van Eck Associates, which owns 10.6% of the outstanding shares, and John Sheehan, who owns 5.5% of the shares.
9. Trading: The trading symbol for Silver Wheaton's common stock on the NYSE is SLW. The stock price has been volatile due to fluctuations in the prices of silver and gold, as well as the company's financial performance. The 52-week high and low for the stock are around $39 and $24, respectively.
10. Competitors: Other silver and gold streaming companies include Royal Gold and Franco-Nevada. These companies have different business models and contracts and face similar risks, such as fluctuations in the prices of precious metals.
Overall, Silver Wheaton Corp. is a company that provides investors with exposure to precious metals, with a unique business model that minimizes risk and maximizes cash flow. While the company's performance is tied to the price of silver and gold, it has a solid track record of profitability and returning value to shareholders.