Wheaton Precious Metals (NYSE:WPM) Sees Unusually-High Trading Volume

Wheaton Precious Metals Corp. (NYSE:WPMGet Rating) saw an uptick in trading volume on Thursday . 94,137 shares changed hands during mid-day trading, a decline of 96% from the previous session’s volume of 2,598,877 shares.The stock last traded at $33.59 and had previously closed at $32.87.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WPM. National Bank Financial cut their price objective on shares of Wheaton Precious Metals from C$75.00 to C$70.00 in a research note on Thursday, July 21st. KeyCorp cut their price objective on shares of Wheaton Precious Metals from $56.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Barclays cut their price objective on shares of Wheaton Precious Metals from $49.00 to $41.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 19th. Stifel Nicolaus lowered their price target on shares of Wheaton Precious Metals from C$71.00 to C$66.50 in a report on Wednesday, July 20th. Finally, StockNews.com assumed coverage on shares of Wheaton Precious Metals in a report on Thursday, March 31st. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.31.

Wheaton Precious Metals Trading Up 1.9 %

The company has a market capitalization of $15.12 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 4.69 and a beta of 0.57. The stock’s fifty day moving average is $38.01 and its 200 day moving average is $42.35.

Wheaton Precious Metals (NYSE:WPMGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Wheaton Precious Metals had a net margin of 63.33% and a return on equity of 9.60%. The business had revenue of $307.24 million during the quarter, compared to analyst estimates of $313.27 million. During the same period in the prior year, the business earned $0.36 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.36 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Friday, May 20th were issued a $0.15 dividend. The ex-dividend date was Thursday, May 19th. This represents a $0.60 annualized dividend and a yield of 1.79%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 35.93%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. AE Wealth Management LLC increased its stake in shares of Wheaton Precious Metals by 2.1% in the 1st quarter. AE Wealth Management LLC now owns 10,228 shares of the company’s stock worth $487,000 after acquiring an additional 207 shares in the last quarter. Advisor Partners LLC increased its stake in shares of Wheaton Precious Metals by 4.8% in the 1st quarter. Advisor Partners LLC now owns 5,699 shares of the company’s stock worth $271,000 after acquiring an additional 263 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Wheaton Precious Metals by 9.4% in the 4th quarter. Quadrant Capital Group LLC now owns 3,598 shares of the company’s stock worth $154,000 after acquiring an additional 310 shares in the last quarter. PCJ Investment Counsel Ltd. increased its stake in shares of Wheaton Precious Metals by 2.2% in the 4th quarter. PCJ Investment Counsel Ltd. now owns 15,000 shares of the company’s stock worth $644,000 after acquiring an additional 330 shares in the last quarter. Finally, Rational Advisors LLC increased its stake in shares of Wheaton Precious Metals by 136.2% in the 4th quarter. Rational Advisors LLC now owns 574 shares of the company’s stock worth $25,000 after acquiring an additional 331 shares in the last quarter. 67.90% of the stock is currently owned by institutional investors.

About Wheaton Precious Metals

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Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.

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