Wheaton Precious Metals (WPM) Shares Gap Up to $16.43

Wheaton Precious Metals Corp (NYSE:WPM)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $16.06, but opened at $16.43. Wheaton Precious Metals shares last traded at $17.17, with a volume of 2706039 shares changing hands.

A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Wheaton Precious Metals from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. ValuEngine cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Royal Bank of Canada set a $26.00 price objective on Wheaton Precious Metals and gave the company a “buy” rating in a report on Monday, July 23rd. Deutsche Bank set a $25.00 price objective on Wheaton Precious Metals and gave the company a “buy” rating in a report on Tuesday, October 2nd. Finally, Raymond James raised their price objective on Wheaton Precious Metals from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, September 28th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.60.

The company has a quick ratio of 4.76, a current ratio of 4.76 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $7.36 billion, a PE ratio of 26.89, a P/E/G ratio of 6.41 and a beta of 0.24.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Tuesday, August 14th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Wheaton Precious Metals had a return on equity of 5.80% and a net margin of 36.76%. The business had revenue of $212.40 million for the quarter, compared to analyst estimates of $203.92 million. During the same period last year, the company earned $0.15 EPS. Wheaton Precious Metals’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts forecast that Wheaton Precious Metals Corp will post 0.52 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wedbush Securities Inc. lifted its stake in shares of Wheaton Precious Metals by 9.7% in the 2nd quarter. Wedbush Securities Inc. now owns 29,281 shares of the company’s stock valued at $646,000 after purchasing an additional 2,582 shares during the period. Baird Financial Group Inc. grew its holdings in shares of Wheaton Precious Metals by 0.6% in the second quarter. Baird Financial Group Inc. now owns 428,914 shares of the company’s stock worth $9,462,000 after acquiring an additional 2,675 shares during the period. Parsons Capital Management Inc. RI grew its holdings in shares of Wheaton Precious Metals by 8.2% in the second quarter. Parsons Capital Management Inc. RI now owns 39,221 shares of the company’s stock worth $865,000 after acquiring an additional 2,966 shares during the period. ARP Americas LP grew its holdings in shares of Wheaton Precious Metals by 20.7% in the third quarter. ARP Americas LP now owns 22,748 shares of the company’s stock worth $398,000 after acquiring an additional 3,900 shares during the period. Finally, First Allied Advisory Services Inc. grew its holdings in shares of Wheaton Precious Metals by 35.9% in the second quarter. First Allied Advisory Services Inc. now owns 16,444 shares of the company’s stock worth $361,000 after acquiring an additional 4,340 shares during the period. Institutional investors and hedge funds own 52.08% of the company’s stock.

About Wheaton Precious Metals (NYSE:WPM)

Wheaton Precious Metals Corp. operates as a silver and gold streaming company in Canada and internationally. It has streaming agreements for 20 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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