Silver Wheaton (SLW) Stock Climbs on Buoying Silver Prices

Silver is higher this afternoon, positively impacting Silver Wheaton (SLW) stock.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Silver Wheaton (SLW)  are climbing 3.1% to $27.94 this afternoon as silver prices rally.

Silver for September delivery is up 1.06% to $20.41 per ounce on the COMEX.

The commodity metal is getting a boost this afternoon following the Federal Reserve policy update from Wednesday, reporting that the central bank has no plans to increase interest rates until at least December.

Weak GDP data indicating that the U.S. economy is undergoing an uneven recovery is likely to spur the Fed to move cautiously in its plans to hike rates, MarketWatch reports. When the government increases interest rates, commodity metals like silver and gold tend to do poorly as investors seek investments with high yields.

However, with the new Fed report, silver has gained.

Gold is also up this afternoon, approaching a three-week high as it climbs 1.46% to $1,360.80 per ounce on the COMEX.

Silver Wheaton is a Vancouver-based silver and gold mining company.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "hold" with a ratings score of C.

The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and feeble growth in the company's earnings per share.

You can view the full analysis from the report here: SLW

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