Silver Wheaton (SLW) Stock Is Down as Silver Prices Drop
NEW YORK (TheStreet) -- Shares of Silver Wheaton (SLW) are down 3.26% to $24.77 this afternoon as silver prices began to retreat today.
Silver had been rallying to its highest prices in about 2 years. The precious metal had hit $20.20 per ounce on the COMEX on Wednesday, a 23-month high.
Silver for September delivery is dropping by 1.92% to $19.82 per ounce this afternoon on the COMEX, however.
The commodity metal has lost nearly all the gains it had earned in the recent bull market.
Rising prices for silver and gold were sparked as Brexit led investors to flock to the safe-haven metals. The rally continued due to lower interest rates, but today new upbeat U.S. economic data led to speculation of an upcoming interest rate hike.
Separately, 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, TheStreet Ratings also finds 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
Recently, 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.