Silver Wheaton profit falls on lower metal prices

Thu May 8, 2014 5:35pm EDT
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May 8 (Reuters) - Silver Wheaton Corp reported a fall in quarterly profit, hurt by a slump in prices of the metal.

The company's profit fell to $79.8 million, or 22 cents per share, in the first quarter ended March 31, from $133.4 million, or 38 cents, a year earlier.

Revenue fell 20 percent to $165.4 million.

Vancouver-based Silver Wheaton helps finance mining projects in exchange for the right to buy future silver production at a set price. (Reporting by Nicole Mordant in Vancouver and Anannya Pramanick in Bangaliore; Editing by Saumyadeb Chakrabarty)