Wheaton Precious Metals (WPM) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Wheaton Precious Metals (NYSE:WPM) from a hold rating to a sell rating in a research report released on Friday morning.

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. “

Several other analysts also recently issued reports on WPM. ValuEngine upgraded Wheaton Precious Metals from a hold rating to a buy rating in a research report on Wednesday, December 5th. TheStreet downgraded Wheaton Precious Metals from a b- rating to a c+ rating in a research report on Monday, November 12th. TD Securities reduced their price objective on Wheaton Precious Metals from $27.00 to $25.00 and set a buy rating on the stock in a research report on Thursday, November 15th. Deutsche Bank set a $25.00 price objective on Wheaton Precious Metals and gave the company a buy rating in a research report on Tuesday, October 2nd. Finally, Raymond James upped their price objective on Wheaton Precious Metals from $26.00 to $28.00 and gave the company an outperform rating in a research report on Friday, September 28th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $25.60.

Shares of NYSE:WPM opened at $16.55 on Friday. The company has a current ratio of 8.04, a quick ratio of 8.04 and a debt-to-equity ratio of 0.27. Wheaton Precious Metals has a 52-week low of $15.08 and a 52-week high of $22.86. The firm has a market capitalization of $7.35 billion, a PE ratio of 26.27, a P/E/G ratio of 6.49 and a beta of 0.41.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Wednesday, November 14th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $185.77 million during the quarter, compared to analysts’ expectations of $191.11 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. On average, equities analysts anticipate that Wheaton Precious Metals will post 0.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 30th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.36 annualized dividend and a dividend yield of 2.18%. Wheaton Precious Metals’s dividend payout ratio is currently 57.14%.

Institutional investors have recently added to or reduced their stakes in the stock. Marietta Investment Partners LLC acquired a new position in Wheaton Precious Metals in the second quarter valued at $210,000. Greenleaf Trust acquired a new position in Wheaton Precious Metals in the second quarter valued at $210,000. MAI Capital Management acquired a new position in Wheaton Precious Metals in the second quarter valued at $214,000. Edgestream Partners L.P. acquired a new position in Wheaton Precious Metals in the second quarter valued at $228,000. Finally, Neuberger Berman Group LLC increased its stake in 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. Hedge funds and other institutional investors own 54.21% of the company’s stock.

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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