Short Interest in Wheaton Precious Metals Corp. (NYSE:WPM) Decreases By 16.0%

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Wheaton Precious Metals Corp. (NYSE:WPM) saw a significant decrease in short interest in the month of October. As of October 30th, there was short interest totalling 8,040,000 shares, a decrease of 16.0% from the October 15th total of 9,570,000 shares. Based on an average daily trading volume, of 1,890,000 shares, the short-interest ratio is currently 4.3 days. Currently, 1.8% of the company’s shares are sold short.

Shares of WPM stock traded up $0.46 during trading hours on Friday, reaching $41.30. The company had a trading volume of 2,660,510 shares, compared to its average volume of 2,665,454. Wheaton Precious Metals has a 12 month low of $18.66 and a 12 month high of $57.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.73 and a quick ratio of 2.73. The business has a fifty day simple moving average of $47.76 and a 200-day simple moving average of $47.51. The company has a market cap of $18.54 billion, a price-to-earnings ratio of 52.28, a price-to-earnings-growth ratio of 8.78 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Monday, November 9th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Wheaton Precious Metals had a return on equity of 6.50% and a net margin of 37.30%. The company had revenue of $307.27 million for the quarter, compared to analyst estimates of $297.00 million. During the same quarter last year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 37.4% on a year-over-year basis. On average, equities research analysts expect that Wheaton Precious Metals will post 1.1 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Tuesday, November 24th. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.10. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 71.43%.

Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Wheaton Precious Metals by 30.2% in the second quarter. FMR LLC now owns 13,718,202 shares of the company’s stock valued at $603,353,000 after purchasing an additional 3,179,722 shares in the last quarter. FIL Ltd increased its position in shares of Wheaton Precious Metals by 6.6% during the second quarter. FIL Ltd now owns 11,975,793 shares of the company’s stock valued at $526,720,000 after acquiring an additional 739,637 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Wheaton Precious Metals by 19.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 6,939,667 shares of the company’s stock valued at $340,373,000 after acquiring an additional 1,115,897 shares during the last quarter. Swiss National Bank increased its position in shares of Wheaton Precious Metals by 1.2% during the second quarter. Swiss National Bank now owns 3,835,000 shares of the company’s stock valued at $167,523,000 after acquiring an additional 46,300 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in shares of Wheaton Precious Metals by 8.0% during the second quarter. TD Asset Management Inc. now owns 3,037,699 shares of the company’s stock valued at $133,173,000 after acquiring an additional 224,352 shares during the last quarter. Institutional investors own 59.45% of the company’s stock.

Several brokerages have recently weighed in on WPM. BMO Capital Markets reissued a “market perform” rating and issued a $50.00 price target on shares of Wheaton Precious Metals in a research note on Thursday, August 20th. Berenberg Bank started coverage on Wheaton Precious Metals in a research note on Monday, November 9th. They set a “buy” rating and a $56.00 target price for the company. Scotiabank reaffirmed a “sector outperform” rating and set a $55.00 target price (up previously from $53.00) on shares of Wheaton Precious Metals in a research note on Thursday, August 13th. Zacks Investment Research raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating and set a $58.00 target price for the company in a research note on Tuesday, October 13th. Finally, TD Securities raised their target price on Wheaton Precious Metals from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $53.09.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, and palladium ores. It has 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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