Wheaton Precious Metals (NYSE:WPM) Sees Unusually-High Trading Volume – Here’s What Happened

Wheaton Precious Metals Corp. (NYSE:WPM) shares saw an uptick in trading volume on Thursday . 2,115,784 shares were traded during trading, an increase of 20% from the previous session’s volume of 1,759,593 shares.The stock last traded at $65.90 and had previously closed at $67.55.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WPM. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. CIBC upped their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Raymond James increased their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Scotiabank raised their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus price target of $70.25.

Wheaton Precious Metals Trading Down 1.3 %

The stock has a market cap of $29.55 billion, a PE ratio of 51.71, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. The business has a 50-day moving average price of $62.47 and a 200-day moving average price of $58.05.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same quarter last year, the firm posted $0.31 EPS. The business’s revenue was up 12.9% on a year-over-year basis. Equities analysts expect that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.95%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 49.21%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Oxbow Advisors LLC lifted its holdings in Wheaton Precious Metals by 6.2% in the 3rd quarter. Oxbow Advisors LLC now owns 10,726 shares of the company’s stock valued at $655,000 after purchasing an additional 622 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Wheaton Precious Metals in the 3rd quarter valued at $8,343,000. Equitable Trust Co. purchased a new position in Wheaton Precious Metals in the 3rd quarter valued at $2,530,000. Fiera Capital Corp lifted its holdings in Wheaton Precious Metals by 4.0% in the 3rd quarter. Fiera Capital Corp now owns 401,132 shares of the company’s stock valued at $24,531,000 after purchasing an additional 15,477 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Wheaton Precious Metals in the 3rd quarter valued at $113,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.