Silver Wheaton (SLW) recently released its second quarter earnings report. The company fell short of reaching its quarterly goals at its earnings per share reached 18 cents, while the market estimates were at 20 cents a share. Moreover, the company’s attributed production, profit margins and net sales fell again. But this company could still reach its annual targets on account of expected increase in Sudbury mine. Let’s examine the recent quarterly results and provide three takeaways from them.
1. Attribution production fell but is expected to pick up
The company didn’t reach its quarterly goals in terms of attribution production and there were sharp falls in the 777 and Sudbury projects. Nonetheless, Vale (VALE) the mining company that operates Sudbury estimates a rise in this mine’s production in the coming quarters, which will more offset the drop in output in the past quarter.
In the past quarter, the attributed production in gold dropped by 13.8%, year over year. Its silver attributed output also slipped by 1.5%. The total output dropped by 2.9%.
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