Silver Wheaton Corp. (USA)(NYSE: SLW) has reported the adjusted earnings per share of $0.19 in the fourth quarter 2016, beating the analysts’ estimates for the adjusted earnings per share of $0.16. The company had reported the adjusted revenue growth of 29 percent to $258 million in the fourth quarter 2016, beating the analysts’ estimates for revenue of $244.8 million.

The company saw silver equivalent sales volume in the fourth quarter 2016 of 15.2 million ounces as compared with 13.6 million silver equivalent ounces in Q4 2015, which represents an increase of 12%. Silver ounces sold were 7.5 million and 108,900 ounces of gold (a new record) were sold. Moreover, the production saw the same trajectory as sales. Silver equivalent production in the fourth quarter 2016 was 15.2 million ounces (7.6 million ounces of silver and 107,300 ounces of gold), as compared with 15.7 million ounces in Q4 2015.

For 2017, the attributable production is expected to be 28 million ounces of silver and 340,000 ounces of gold. The estimated annual production over the next five years is expected to be in line with 2017 numbers. There is an ongoing San Dimas strike that is expected to last another three months but could take a longer period. The revenues and earnings will grow due to the new streams and better metal prices. The company expects the new streams coming on the next five years.

Additionally, SLW has posted record Salobo attributable gold production in the fourth quarter 2016 of 71,328 ounces compared with 39,395 ounces in Q4 2015, which represents an increase of 81% due to the acquisition of an additional 25% of attributable gold in the third quarter of 2016 and increased throughput.

SLW has declared its first quarterly cash dividend payment for 2017 of US$0.07 per common share, to be paid to holders of record of SLW common shares as of the close of business on April 5th, 2017, and will be distributed on or about April 21st, 2017. This is an increase of US$0.01 relative to the previous quarterly dividend.

SLW has proposed changing its name to Wheaton Precious Metals Corp as half its revenue now comes from gold.

SLW stock has risen 12.09% in the last one year (source: Google Finance). According to tipranks.com, 3 analysts has covered the stock while recommending a “Moderate Buy”. SLW has an average price target of $25.67, which is a further upside of 28.80%.