Welcome To The Golden Minerals HUB On AGORACOM

Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

Free
Message: Re: silver stocks demand high
1
Feb 08, 2008 10:50AM

gwr, the upgrade on SLW a few days ago by UBS supports your claim.  A great sign IMO.  

 

VANCOUVER - Investment firm UBS upgraded its rating on Silver Wheaton Corp. (TSX:SLW) on Monday after an announcement last week by Goldcorp Inc. (TSX:G) that it would sell its remaining 48 per cent stake in the silver company for more than $1.5 billion. UBS analyst Tony Lesiak upgraded his rating to a "buy" from a "neutral" rating and raised his price target from US$18 to US$19 because what he called the Goldcorp "overhang" was removed.

"We view the transaction as positive to SLW as it will increase the trading liquidity, making it a more attractive leveraged silver option for investors," Lesiak wrote in a note to clients.

Silver Wheaton shares were down 27 cents at $15 in trading on the Toronto Stock Exchange.

Last week, Goldcorp announced a to sell its remaining stake in Silver Wheaton (TSX:SLW) in a secondary offering of 108 million shares worth $1.57 billion or $14.50 per share.

The gold producer said it would use the money to help fund capital spending including the completion of its Penasquito, Eleonore and Cerro Blanco projects.

Share
New Message
Please login to post a reply