Wheaton Precious Metals (NYSE:WPM) Sees Unusually-High Trading Volume

Wheaton Precious Metals Corp. (NYSE:WPMGet Free Report) shares saw unusually-high trading volume on Monday . Approximately 1,808,459 shares changed hands during trading, a decline of 5% from the previous session’s volume of 1,905,355 shares.The stock last traded at $55.53 and had previously closed at $55.81.

Wall Street Analyst Weigh In

WPM has been the subject of several recent analyst reports. CIBC upped their target price on Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. Jefferies Financial Group upped their target price on Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Bank of America upped their target price on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Berenberg Bank upped their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, TD Securities upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and upped their price target for the stock from $51.00 to $53.00 in a report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.78.

Read Our Latest Report on Wheaton Precious Metals

Wheaton Precious Metals Price Performance

The firm has a market capitalization of $25.74 billion, a price-to-earnings ratio of 43.14, a P/E/G ratio of 1.96 and a beta of 0.76. The stock has a fifty day moving average of $54.47 and a two-hundred day moving average of $49.67.

Wheaton Precious Metals (NYSE:WPMGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $296.80 million during the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. Wheaton Precious Metals’s quarterly revenue was up 38.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 1.29 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were issued a dividend of $0.155 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a yield of 1.09%. Wheaton Precious Metals’s payout ratio is currently 47.69%.

Institutional Trading of Wheaton Precious Metals

A number of large investors have recently bought and sold shares of WPM. Norges Bank acquired a new stake in Wheaton Precious Metals during the 4th quarter worth about $387,481,000. TD Asset Management Inc grew its holdings in Wheaton Precious Metals by 71.2% during the 1st quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock worth $229,026,000 after acquiring an additional 2,019,722 shares during the period. Van ECK Associates Corp grew its holdings in Wheaton Precious Metals by 9.9% during the 4th quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock worth $1,012,517,000 after acquiring an additional 1,856,031 shares during the period. AMF Tjanstepension AB grew its holdings in Wheaton Precious Metals by 593.5% during the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock worth $84,388,000 after acquiring an additional 1,376,231 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Wheaton Precious Metals by 31.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company’s stock worth $272,975,000 after acquiring an additional 1,342,264 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

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