Wheaton Precious Metals Corp. (NYSE:WPM) Short Interest Down 24.1% in March

Wheaton Precious Metals Corp. (NYSE:WPMGet Rating) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 6,930,000 shares, a drop of 24.1% from the March 15th total of 9,130,000 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 2,550,000 shares, the short-interest ratio is presently 2.7 days.

WPM stock traded down $0.06 during mid-day trading on Monday, reaching $51.23. 233,663 shares of the company traded hands, compared to its average volume of 2,487,740. The stock has a market cap of $23.10 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 7.25 and a beta of 0.48. Wheaton Precious Metals has a fifty-two week low of $36.39 and a fifty-two week high of $52.00. The firm’s 50 day moving average price is $46.56 and its 200 day moving average price is $42.91.

Wheaton Precious Metals (NYSE:WPMGet Rating) last released its quarterly earnings results on Thursday, March 10th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The company had revenue of $278.20 million for the quarter, compared to analyst estimates of $287.99 million. Wheaton Precious Metals had a net margin of 62.82% and a return on equity of 9.86%. Wheaton Precious Metals’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. On average, equities analysts predict that Wheaton Precious Metals will post 1.41 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Thursday, March 24th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $0.60 annualized dividend and a dividend yield of 1.17%. Wheaton Precious Metals’s dividend payout ratio is currently 35.71%.

Several institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its position in shares of Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 22,488,298 shares of the company’s stock worth $965,425,000 after buying an additional 1,347,227 shares in the last quarter. Capital World Investors lifted its position in shares of Wheaton Precious Metals by 5.2% during the 3rd quarter. Capital World Investors now owns 19,809,661 shares of the company’s stock worth $744,447,000 after buying an additional 974,139 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Wheaton Precious Metals by 9.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,899,282 shares of the company’s stock worth $296,280,000 after buying an additional 594,520 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Wheaton Precious Metals by 0.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,305,385 shares of the company’s stock worth $270,690,000 after purchasing an additional 48,747 shares during the period. Finally, Ruffer LLP raised its holdings in shares of Wheaton Precious Metals by 29.5% in the 4th quarter. Ruffer LLP now owns 5,625,487 shares of the company’s stock worth $237,137,000 after purchasing an additional 1,282,970 shares during the period. 68.35% of the stock is currently owned by hedge funds and other institutional investors.

WPM has been the subject of several research reports. Raymond James set a $56.00 target price on Wheaton Precious Metals and gave the company an “outperform” rating in a research note on Friday, March 11th. StockNews.com initiated coverage on Wheaton Precious Metals in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, KeyCorp reduced their target price on Wheaton Precious Metals from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, December 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus target price of $53.40.

About Wheaton Precious Metals (Get Rating)

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 23 operating mining assets and 10 development stage projects. The company was formerly known as Silver Wheaton Corp.

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