VANCOUVER — Despite a pronounced fall in profits on the back of declining precious metals prices, streaming outfit Silver Wheaton (TSX: SLW; NYSE: SLW) remains a favourite amongst analysts and investors. The company recorded its fifth consecutive year of record production and sales volume in 2013 – despite underperforming during the fourth quarter – and looks on pace to continue to grow and hit new highs in the coming year.
The company recorded a 17% jump in silver equivalent production during 2013, with precious metal streams from 19 operating mines chipping in roughly 27 million oz of silver and 151,000 oz of gold. Silver Wheaton saw Hudbay Mineral‘s (TSX: HBM; NYSE: HBM) 777 zinc-copper-lead-silver mine in Manitoba hit its first full year of production, and inked a US$1.9 billion deal with Vale (NYSE: VALE) on the company’s Salobo copper-gold mine in Brazil and Sudbury nickel operations in Ontario.
Continue reading this story at NorthernMiner.com/news/silver-wheaton