Wheaton Precious Metals Corp. (NYSE:WPM) Short Interest Update

Saturday, April 17, 2021 | MarketBeat

Wheaton Precious Metals Corp. (NYSE:WPM) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 6,530,000 shares, a drop of 26.6% from the March 15th total of 8,900,000 shares. Based on an average daily volume of 2,860,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.5% of the company's shares are short sold.

NYSE WPM traded up $0.34 during trading on Friday, reaching $42.37. The company's stock had a trading volume of 2,423,626 shares, compared to its average volume of 2,874,191. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $19.06 billion, a price-to-earnings ratio of 53.63, a price-to-earnings-growth ratio of 8.78 and a beta of 0.55. Wheaton Precious Metals has a 12 month low of $33.00 and a 12 month high of $57.89. The firm has a 50 day moving average price of $38.72 and a 200 day moving average price of $42.18.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, March 11th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.34 by ($0.01). The business had revenue of $286.20 million during the quarter, compared to the consensus estimate of $296.32 million. Wheaton Precious Metals had a net margin of 37.30% and a return on equity of 6.50%. The business's revenue for the quarter was up 28.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. On average, equities analysts forecast that Wheaton Precious Metals will post 1.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 13th. Stockholders of record on Friday, March 26th were given a $0.13 dividend. The ex-dividend date was Thursday, March 25th. This is a boost from Wheaton Precious Metals's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.23%. Wheaton Precious Metals's payout ratio is presently 85.71%.

A number of brokerages have recently weighed in on WPM. Canaccord Genuity reissued a "buy" rating and set a $82.00 price target on shares of Wheaton Precious Metals in a research report on Thursday, March 18th. Royal Bank of Canada upgraded shares of Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating and set a $51.00 price objective on the stock in a report on Monday, March 8th. TD Securities restated a "buy" rating and set a $76.00 price objective (up from $60.00) on shares of Wheaton Precious Metals in a report on Tuesday, March 16th. Berenberg Bank restated a "buy" rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 7th. Finally, Stifel Nicolaus upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, February 8th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Wheaton Precious Metals has an average rating of "Buy" and a consensus price target of $56.58.

Several large investors have recently modified their holdings of the company. D.A. Davidson & CO. raised its position in shares of Wheaton Precious Metals by 6.5% in the 4th quarter. D.A. Davidson & CO. now owns 4,981 shares of the company's stock valued at $208,000 after buying an additional 306 shares in the last quarter. Pacifica Partners Inc. raised its position in shares of Wheaton Precious Metals by 5.8% in the 1st quarter. Pacifica Partners Inc. now owns 5,910 shares of the company's stock valued at $235,000 after buying an additional 325 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in Wheaton Precious Metals by 6.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,685 shares of the company's stock worth $279,000 after purchasing an additional 396 shares in the last quarter. AdvisorNet Financial Inc increased its position in Wheaton Precious Metals by 13.3% in the 4th quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company's stock valued at $142,000 after acquiring an additional 400 shares during the period. Finally, Guardian Capital Advisors LP increased its position in Wheaton Precious Metals by 7.3% in the 4th quarter. Guardian Capital Advisors LP now owns 6,346 shares of the company's stock valued at $286,000 after acquiring an additional 431 shares during the period. Institutional investors own 59.45% of the company's stock.

About Wheaton Precious Metals

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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