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.
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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