Wheaton Precious Metals (NYSE:WPM) Shares Gap Down to $43.06

Wheaton Precious Metals Corp (NYSE:WPM) shares gapped down prior to trading on Wednesday . The stock had previously closed at $44.70, but opened at $43.06. Wheaton Precious Metals shares last traded at $42.21, with a volume of 2,930,926 shares traded.

WPM has been the subject of several recent research reports. Credit Suisse Group reiterated a “hold” rating and issued a $46.00 target price on shares of Wheaton Precious Metals in a research note on Thursday, May 7th. Royal Bank of Canada downgraded shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $31.00 to $35.00 in a research note on Friday, May 15th. Raymond James boosted their price objective on shares of Wheaton Precious Metals from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Deutsche Bank cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating and boosted their price objective for the company from $33.00 to $42.00 in a research note on Tuesday, May 12th. Finally, ValuEngine cut shares of Wheaton Precious Metals from a “hold” rating to a “sell” rating in a research note on Saturday, February 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $40.60.

The firm has a market capitalization of $19.35 billion, a P/E ratio of 160.04, a price-to-earnings-growth ratio of 9.28 and a beta of 0.48. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.14. The firm’s 50-day simple moving average is $39.66 and its 200-day simple moving average is $31.21.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, March 11th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Wheaton Precious Metals had a net margin of 13.88% and a return on equity of 5.59%. The business had revenue of $223.22 million during the quarter, compared to analyst estimates of $233.57 million. During the same period in the previous year, the business posted $0.08 earnings per share. Wheaton Precious Metals’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, analysts expect that Wheaton Precious Metals Corp will post 0.91 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.40 annualized dividend and a yield of 0.93%. Wheaton Precious Metals’s payout ratio is presently 71.43%.

Several institutional investors and hedge funds have recently made changes to their positions in WPM. Atlas Private Wealth Management bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $36,000. Ancora Advisors LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $39,000. Bessemer Group Inc. bought a new stake in shares of Wheaton Precious Metals in the 1st quarter worth approximately $40,000. PSI Advisors LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $43,000. Finally, Pacifica Partners Inc. bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 58.58% of the company’s stock.

About Wheaton Precious Metals (NYSE:WPM)

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.

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