UPDATE: Scotia Capital Markets Raises PT to $50 on Silver Wheaton Corp; Solid Q1
Scotia Capital Markets raises its price target on Silver Wheaton Corp (NYSE: SLW) from $47 to $50.
Scotia Capital Markets notes, "Silver Wheaton reported Q1/12 adjusted EPS of $0.41, slightly ahead of our estimate of $0.39 and in line with consensus. Silver Wheaton also declared a quarterly dividend of $0.09 per share. …We adjusted our valuation for the quarter and to reflect the slow pace of permitting at the Rosemont project in Arizona (now modelled to start in 2015). As a result our valuation decreased 1% and we scaled back our target multiple to 1.82x."
SLW closed at $24.40 on Tuesday.
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Tags: Scotia Capital Markets