Stock Traders Buy High Volume of Wheaton Precious Metals Put Options (NYSE:WPM)

Wheaton Precious Metals Corp (NYSE:WPM) saw unusually large options trading activity on Monday. Traders acquired 16,035 put options on the company. This represents an increase of approximately 1,259% compared to the average volume of 1,180 put options.

A number of brokerages have issued reports on WPM. ValuEngine downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America increased their target price on shares of Wheaton Precious Metals from $33.50 to $35.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Raymond James reissued an “outperform” rating and set a $29.00 target price on shares of Wheaton Precious Metals in a research report on Monday, August 12th. Zacks Investment Research downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a report on Saturday. Finally, Barclays downgraded shares of Wheaton Precious Metals from an “overweight” rating to an “equal weight” rating and set a $28.00 price objective for the company. in a report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Wheaton Precious Metals has a consensus rating of “Buy” and an average target price of $31.82.

Shares of NYSE:WPM opened at $26.15 on Wednesday. The stock has a market cap of $11.79 billion, a PE ratio of 54.48, a PEG ratio of 9.50 and a beta of -0.12. The company’s fifty day moving average is $27.29 and its 200 day moving average is $24.78. Wheaton Precious Metals has a 52 week low of $15.08 and a 52 week high of $30.90. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.22.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $189.47 million for the quarter, compared to analysts’ expectations of $194.90 million. Wheaton Precious Metals had a negative net margin of 3.33% and a positive return on equity of 3.35%. The firm’s revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. Sell-side analysts anticipate that Wheaton Precious Metals will post 0.56 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in WPM. Invesco Ltd. boosted its stake in shares of Wheaton Precious Metals by 123.9% during the 2nd quarter. Invesco Ltd. now owns 5,137,109 shares of the company’s stock valued at $124,216,000 after purchasing an additional 2,842,321 shares in the last quarter. Dudley & Shanley Inc. bought a new stake in Wheaton Precious Metals during the third quarter worth about $41,206,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake 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 worth $53,604,000 after acquiring an additional 737,925 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Wheaton Precious Metals during the second quarter worth about $12,090,000. Finally, Vanguard Group Inc. boosted its stake 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 worth $319,438,000 after acquiring an additional 359,679 shares in the last quarter. 53.83% of the stock is currently owned by hedge funds and other institutional investors.

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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