Silver for September delivery is rising 1.23% to $20.24 per ounce today on the COMEX.
Silver is up this afternoon after the Federal Reserve's policy statement released yesterday revealed that the central bank is reluctant to raise interest rates now.
Commodity metals like silver struggle in high interest rate environments as investors turn toward investments with high yields. However, with no rate hike expected in the upcoming months, the metal has soared.
The Fed held open the prospect for a rate increase later this year in its policy statement, MarketWatch reports.
Silver Wheaton is a Vancouver-based 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, TheStreet Ratings 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