Wheaton Precious Metals Corp (NYSE:WPM) Sees Large Growth in Short Interest

Wheaton Precious Metals Corp (NYSE:WPM) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 11,390,000 shares, an increase of 14.7% from the June 30th total of 9,930,000 shares. Currently, 2.5% of the company’s shares are short sold. Based on an average daily volume of 2,860,000 shares, the short-interest ratio is presently 4.0 days.

Several equities analysts recently commented on WPM shares. Royal Bank of Canada lowered shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $31.00 to $35.00 in a report on Friday, May 15th. TD Securities raised their price target on shares of Wheaton Precious Metals from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Zacks Investment Research lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating and set a $55.00 price target on the stock. in a report on Thursday, July 23rd. Deutsche Bank raised their price target on shares of Wheaton Precious Metals from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. Finally, Credit Suisse Group raised their price target on shares of Wheaton Precious Metals from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $46.70.

Large investors have recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $6,633,000. Bessemer Group Inc. purchased a new position in Wheaton Precious Metals in the first quarter worth about $40,000. Larson Financial Group LLC purchased a new position in Wheaton Precious Metals in the second quarter worth about $67,000. St. Johns Investment Management Company LLC purchased a new position in Wheaton Precious Metals in the second quarter worth about $79,000. Finally, Pacitti Group Inc. raised its holdings in Wheaton Precious Metals by 33.2% in the first quarter. Pacitti Group Inc. now owns 2,408 shares of the company’s stock worth $66,000 after buying an additional 600 shares during the last quarter. 58.04% of the stock is owned by hedge funds and other institutional investors.

NYSE:WPM opened at $54.33 on Friday. The company has a 50-day moving average price of $45.44 and a 200-day moving average price of $36.47. Wheaton Precious Metals has a 12 month low of $18.66 and a 12 month high of $57.23. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.14. The stock has a market cap of $24.39 billion, a price-to-earnings ratio of 201.22, a P/E/G ratio of 11.03 and a beta of 0.49.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Wednesday, May 6th. The company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Wheaton Precious Metals had a net margin of 13.88% and a return on equity of 5.59%. The firm had revenue of $254.79 million during the quarter, compared to analysts’ expectations of $250.67 million. Equities analysts forecast that Wheaton Precious Metals will post 0.96 EPS for the current fiscal year.

About Wheaton Precious Metals

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 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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