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Actionable news in SLW: SILVER WHEATON CORP,

Silver Wheaton (SLW) Stock Up, Barclays Initiates Coverage

NEW YORK (TheStreet) -- Silver Wheaton Corp. (SLW - Get Report) stock is gaining 0.63% to $14.36 in early morning trading after it was initiated with an "overweight" rating and an $18 price target at Barclays.

The Canadian mining company has improved its balance sheets and has significant liquidity that could lead to acquisitions, Barclays said in an analyst note.

Silver Wheaton "has a high quality stream portfolio that can grow annual earnings and cash flows organically at spot commodity prices," analysts added.

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The company's earnings per share are expected to grow 3.7% annually over the next five years, making it an attractive option despite the overall weaker mining industry.

Silver Wheaton is facing a reassessment from the Canada Revenue Agency, which is investigating the company's 2005 to 2010 taxes.

The company may face up to $1.1 billion in charges, but the stock may not see substantial downside from the reassessment, analysts noted.

Separately, TheStreet Ratings team rates SILVER WHEATON CORP as a Hold...


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