Silver Wheaton profit rises 23 pct

March 21 Thu Mar 21, 2013 8:22pm EDT

Related Topics

March 21 (Reuters) - Silver Wheaton Corp reported a 23 percent rise in fourth-quarter profit as output rose by more than a fifth.

Profit rose to $177.7 million, or 50 cents per share, from$144.7 million, or 41 cents per share, in the year-earlier period.

Attributable silver equivalent output rose 22 percent to 8.5 million ounces, for the quarter. Average cash costs rose to $4.70 per silver equivalent ounce, from $4.06 per silver equivalent ounce, a year earlier.

Vancouver-based Silver Wheaton, which provides miners with cash up front to finance mine construction in exchange for the right to buy future silver production at a set price, said revenue rose 50 percent to $287.2 million.

Silver Wheaton shares, which have lost about 19 percent of their value over the last six months, closed at C$31.69 on the Toronto Stock Exchange on Thursday.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

A tourist takes a plunge as she swims at Ngapali Beach, a popular tourist site, in the Thandwe township of the Rakhine state, October 6, 2013. Picture taken October 6, 2013. REUTERS/Soe Zeya Tun (MYANMAR - Tags: SOCIETY) - RTR3FOI0

Where do you want to go?

We look at when to take trips, budget considerations and the popularity of multigenerational family travel.   Video