Zacks Investment Research downgraded shares of Wheaton Precious Metals (NYSE:WPM) from a buy rating to a hold rating in a research note issued to investors on Saturday.
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. “
Other equities analysts have also issued research reports about the stock. TheStreet raised shares of Wheaton Precious Metals from a c+ rating to a b- rating in a research report on Tuesday, October 24th. TD Securities set a $28.00 price target on shares of Wheaton Precious Metals and gave the company a buy rating in a report on Friday, October 20th. Desjardins reissued a buy rating on shares of Wheaton Precious Metals in a report on Monday, December 11th. Finally, Royal Bank of Canada set a $25.00 price target on shares of Wheaton Precious Metals and gave the company a buy rating in a report on Sunday, October 8th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $25.78.
Shares of Wheaton Precious Metals (NYSE:WPM) traded up $0.77 during mid-day trading on Friday, reaching $21.90. 3,320,130 shares of the company were exchanged, compared to its average volume of 2,270,000. Wheaton Precious Metals has a fifty-two week low of $18.32 and a fifty-two week high of $23.06. The company has a market capitalization of $9,710.00, a price-to-earnings ratio of 46.60, a P/E/G ratio of 6.15 and a beta of 0.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.80 and a quick ratio of 5.80.
Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, November 9th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.15. Wheaton Precious Metals had a net margin of 24.02% and a return on equity of 5.54%. The business had revenue of $203.00 million for the quarter, compared to analyst estimates of $220.84 million. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. equities analysts anticipate that Wheaton Precious Metals will post 0.61 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new stake in Wheaton Precious Metals in the 2nd quarter valued at $4,600,000. SG Americas Securities LLC boosted its stake in shares of Wheaton Precious Metals by 118.4% in the 3rd quarter. SG Americas Securities LLC now owns 16,045 shares of the company’s stock valued at $306,000 after purchasing an additional 8,699 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Wheaton Precious Metals by 31.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,283,499 shares of the company’s stock valued at $24,502,000 after purchasing an additional 307,951 shares in the last quarter. Pring Turner Capital Group Inc. acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at $2,051,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at $1,317,000. 50.45% of the stock is currently owned by hedge funds and other institutional investors.
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About Wheaton Precious Metals
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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