Wheaton Precious Metals (NYSE:WPM) Rating Lowered to Hold at ValuEngine

ValuEngine downgraded shares of Wheaton Precious Metals (NYSE:WPM) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, ValuEngine reports.

Several other research firms have also issued reports on WPM. Bank of America upped their target price on shares of Wheaton Precious Metals from $33.50 to $35.00 and gave the stock a buy rating in a research note on Thursday, September 26th. Canaccord Genuity reiterated a buy rating on shares of Wheaton Precious Metals in a research note on Friday, August 23rd. Zacks Investment Research upgraded shares of Wheaton Precious Metals from a sell rating to a hold rating in a research note on Friday, July 5th. Raymond James reiterated an outperform rating and issued a $29.00 target price on shares of Wheaton Precious Metals in a research note on Monday, August 12th. Finally, GMP Securities lowered shares of Wheaton Precious Metals from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $32.10.

Shares of NYSE WPM traded up $0.43 during trading on Wednesday, hitting $26.98. The stock had a trading volume of 1,137,741 shares, compared to its average volume of 2,507,238. Wheaton Precious Metals has a 12 month low of $15.08 and a 12 month high of $30.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65. The company has a market capitalization of $11.90 billion, a PE ratio of 56.21, a PEG ratio of 9.75 and a beta of -0.12. The firm has a fifty day moving average of $27.86 and a two-hundred day moving average of $24.55.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. Wheaton Precious Metals had a negative net margin of 3.33% and a positive return on equity of 3.35%. The firm had revenue of $189.47 million during the quarter, compared to analyst estimates of $194.90 million. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue was down 10.8% compared to the same quarter last year. On average, equities analysts expect that Wheaton Precious Metals will post 0.54 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Friday, August 23rd were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.36 annualized dividend and a yield of 1.33%. Wheaton Precious Metals’s payout ratio is currently 75.00%.

A number of institutional investors and hedge funds have recently bought and sold shares of WPM. FIL Ltd grew its position in Wheaton Precious Metals by 67.0% during the first quarter. FIL Ltd now owns 7,726,743 shares of the company’s stock valued at $183,924,000 after buying an additional 3,100,285 shares during the period. Invesco Ltd. grew its position in Wheaton Precious Metals by 123.9% during the second quarter. Invesco Ltd. now owns 5,137,109 shares of the company’s stock valued at $124,216,000 after buying an additional 2,842,321 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Wheaton Precious Metals by 50.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,211,766 shares of the company’s stock valued at $53,604,000 after buying an additional 737,925 shares during the period. MUFG Securities EMEA plc bought a new position in Wheaton Precious Metals during the second quarter valued at about $12,090,000. Finally, Vanguard Group Inc. grew its position in Wheaton Precious Metals by 2.8% during the second quarter. Vanguard Group Inc. now owns 13,210,823 shares of the company’s stock valued at $319,438,000 after buying an additional 359,679 shares during the period. Institutional investors own 53.48% of the company’s stock.

Wheaton Precious Metals Company Profile

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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Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

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