Silver Wheaton profit falls due to lower metal prices

Thu Mar 20, 2014 5:20pm EDT
 
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March 20 (Reuters) - Canada's Silver Wheaton Corp reported a 47 percent fall in quarterly profit, hurt by a decline in metal prices.

The company's net earnings fell to $93.9 million, or 26 cents a share, in the fourth quarter ended Dec. 31, from $177.7 million, or 50 cents, a year earlier.

Revenue fell 42 percent to $167.4 million.

The Vancouver-based company helps finance mining projects in exchange for the right to buy future silver production at a set price. (Reporting by Allison Martell in Toronto and Sneha Banerjee in Bangalore; Editing by Maju Samuel)