Wheaton Precious Metals Corp (NYSE:WPM) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 5,574,671 shares, a drop of 48.2% from the October 31st total of 10,768,962 shares. Based on an average daily trading volume, of 2,814,433 shares, the short-interest ratio is currently 2.0 days.
Shares of WPM stock opened at $16.10 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 8.04 and a current ratio of 8.04. Wheaton Precious Metals has a 52 week low of $15.08 and a 52 week high of $22.86. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 25.56, a P/E/G ratio of 6.24 and a beta of 0.41.
Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Wednesday, November 14th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). Wheaton Precious Metals had a net margin of 33.64% and a return on equity of 5.14%. The business had revenue of $185.77 million during the quarter, compared to analyst estimates of $191.11 million. During the same quarter last year, the business earned $0.15 earnings per share. Wheaton Precious Metals’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, analysts forecast that Wheaton Precious Metals will post 0.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 30th will be issued a $0.09 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.24%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 57.14%.
Several brokerages have commented on WPM. Deutsche Bank set a $25.00 target price on shares of Wheaton Precious Metals and gave the stock a “buy” rating in a report on Tuesday, October 2nd. ValuEngine downgraded shares of Wheaton Precious Metals from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Raymond James raised their target price on shares of Wheaton Precious Metals from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Barclays began coverage on shares of Wheaton Precious Metals in a report on Wednesday, October 10th. They set an “overweight” rating on the stock. Finally, TheStreet downgraded shares of Wheaton Precious Metals from a “b-” rating to a “c+” rating in a report on Monday, November 12th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $25.60.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Wheaton Precious Metals by 2.5% in the third quarter. Vanguard Group Inc. now owns 12,125,064 shares of the company’s stock valued at $212,188,000 after purchasing an additional 299,591 shares during the last quarter. Morgan Stanley raised its holdings in shares of Wheaton Precious Metals by 6.4% in the third quarter. Morgan Stanley now owns 1,771,308 shares of the company’s stock valued at $30,998,000 after purchasing an additional 106,661 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Wheaton Precious Metals in the third quarter valued at approximately $424,000. Neuberger Berman Group LLC raised its holdings in shares of Wheaton Precious Metals by 34.9% in the third quarter. Neuberger Berman Group LLC now owns 14,504 shares of the company’s stock valued at $254,000 after purchasing an additional 3,750 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its holdings in shares of Wheaton Precious Metals by 102.6% in the third quarter. Koshinski Asset Management Inc. now owns 21,760 shares of the company’s stock valued at $381,000 after purchasing an additional 11,022 shares during the last quarter. Institutional investors own 54.21% of the company’s stock.
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About Wheaton Precious Metals
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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