Leading International Investment Research

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

Wheaton Precious Metals  / Equity Bottom-Up

<p>A mixed performance at Silver Wheaton&#8217;s (SLW) silver division was trumped by an exceptional performance at its gold division in Q416, such that the company&#8217;s financial results materially outperformed our prior estimates for Q416 as well as SLW&#8217;s own guidance at the time of its Q316 results. As a consequence, sales and cash flows derived by SLW from gold operations exceeded those from silver for the first time ever.</p>

A mixed performance at Silver Wheaton&#8217;s (SLW) silver division was trumped by an exceptional performance at its gold division in Q416, such that the company&#8217;s financial results materially outperformed our prior estimates for Q416 as well as SLW&#8217;s own guidance at the time of its Q316 results. As a consequence, sales and cash flows derived by SLW from gold operations exceeded those from silver for the first time ever.

Wheaton Precious Metals

What a difference a quarter makes