Silver Wheaton Corp (WPM) Rating Increased to Hold at Zacks Investment Research
Silver Wheaton Corp (NYSE:WPM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Wheaton Precious Metals Corp. operates as a silver and gold streaming company. Wheaton Precious Metals Corp, formerly known as Silver Wheaton Corp, is headquartered in Vancouver, Canada. “
WPM has been the topic of a number of other research reports. Royal Bank Of Canada set a $27.00 price target on Silver Wheaton Corp and gave the company a “buy” rating in a report on Monday, August 28th. TD Securities set a $28.00 price target on Silver Wheaton Corp and gave the company a “buy” rating in a report on Friday, October 20th. Finally, BMO Capital Markets restated a “buy” rating and set a $28.00 price target on shares of Silver Wheaton Corp in a report on Wednesday, September 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $27.40.
Shares of Silver Wheaton Corp (NYSE WPM) opened at 20.60 on Wednesday. Silver Wheaton Corp has a 12 month low of $16.94 and a 12 month high of $25.27. The company’s 50 day moving average price is $19.94 and its 200 day moving average price is $20.03. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 41.12 and a beta of 0.27.
Silver Wheaton Corp (NYSE:WPM) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. Silver Wheaton Corp had a return on equity of 5.90% and a net margin of 25.05%. The company had revenue of $200.00 million for the quarter, compared to the consensus estimate of $217.81 million. During the same quarter in the previous year, the business earned $0.14 EPS. Silver Wheaton Corp’s revenue was down 5.7% compared to the same quarter last year. On average, equities analysts expect that Silver Wheaton Corp will post $0.61 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Silver Wheaton Corp during the 2nd quarter worth approximately $146,000. Integrated Investment Consultants LLC purchased a new position in shares of Silver Wheaton Corp during the 2nd quarter worth approximately $159,000. First Manhattan Co. purchased a new position in shares of Silver Wheaton Corp during the 2nd quarter worth approximately $236,000. Atlantic Trust Group LLC purchased a new position in shares of Silver Wheaton Corp during the 2nd quarter worth approximately $238,000. Finally, IFP Advisors Inc purchased a new position in shares of Silver Wheaton Corp during the 2nd quarter worth approximately $393,000. Hedge funds and other institutional investors own 48.36% of the company’s stock.
About Silver Wheaton Corp
Wheaton Precious Metals Corp, formerly Silver Wheaton Corp, is a Canada-based pure precious metals streaming company engaged in the sale of silver and gold. The Company operates through eight segments: the silver produced by the San Dimas, Penasquito and Antamina mines, the gold produced by the Sudbury and Salobo mines, the silver and gold produced by the Constancia mine and the Other mines, and corporate operations.
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