Wheaton Precious Metals (NYSE:WPM) Stock Price Down 4.9%

Wheaton Precious Metals Corp. (NYSE:WPMGet Free Report) shares were down 4.9% during mid-day trading on Friday . The company traded as low as $52.59 and last traded at $52.89. Approximately 257,981 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,989,283 shares. The stock had previously closed at $55.59.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WPM shares. Jefferies Financial Group increased their target price on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. National Bank Financial lowered shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. Raymond James reduced their price objective on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Thursday, February 22nd. Berenberg Bank raised their price objective on shares of Wheaton Precious Metals from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and upped their price objective for the company from $51.00 to $53.00 in a research note on Monday, March 18th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $61.33.

Check Out Our Latest Research Report on Wheaton Precious Metals

Wheaton Precious Metals Stock Down 5.4 %

The stock has a market cap of $23.84 billion, a P/E ratio of 40.45, a price-to-earnings-growth ratio of 2.01 and a beta of 0.78. The firm’s 50-day moving average is $53.63 and its two-hundred day moving average is $48.86.

Wheaton Precious Metals (NYSE:WPMGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $296.80 million for the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. Wheaton Precious Metals’s quarterly revenue was up 38.7% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share. Analysts anticipate that Wheaton Precious Metals Corp. will post 1.28 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be given a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.62 annualized dividend and a yield of 1.18%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 47.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fielder Capital Group LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at $1,046,000. King Luther Capital Management Corp bought a new position in shares of Wheaton Precious Metals in the fourth quarter valued at about $6,154,000. Alberta Investment Management Corp raised its holdings in shares of Wheaton Precious Metals by 0.8% in the fourth quarter. Alberta Investment Management Corp now owns 957,947 shares of the company’s stock valued at $47,491,000 after buying an additional 7,610 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Wheaton Precious Metals by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 528,581 shares of the company’s stock valued at $26,081,000 after buying an additional 24,676 shares during the last quarter. Finally, Sprott Inc. raised its holdings in shares of Wheaton Precious Metals by 4.8% in the third quarter. Sprott Inc. now owns 799,533 shares of the company’s stock valued at $32,421,000 after buying an additional 36,654 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Company Profile

(Get Free Report)

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.

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