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Silver Wheaton +1.5% as Q1 silver production slips, gold output gains

Published 05/10/2017, 03:42 PM
© Reuters.  Silver Wheaton +1.5% as Q1 silver production slips, gold output gains
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  • Silver Wheaton (SLW +1.5%) is higher after reporting in-line Q1 earnings on 6% higher revenues of $198M, of which 46% was attributable to the sale of silver and 54% to gold.
  • SLW says Q1 attributable production totaled 6.5M oz. of silver, down 14% Y/Y in part because of the strike at the San Dimas mine in Mexico, and 84.9K oz. of gold, up 37% Y/Y; Q1 sales volume of 5.2M oz. of silver and 88.4K oz. of gold represented a 31% Y/Y decline and 35% increase, respectively.
  • The Q1 average realized price per silver oz. sold was up 19% Y/Y at $17.45 and $1,208/oz. of gold, up 3%.
  • SLW guides for FY 2017 production of 28M silver oz. and 340K gold oz., and estimates average annual output over the next five years of 29M silver oz. and 340K gold oz.
  • Now read: Silver Wheaton: No Upside Ahead, Time To Sell


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