Wheaton Precious Metals (NYSE:WPM) Stock Price Down 2%

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) dropped 2% during mid-day trading on Thursday . The company traded as low as $49.74 and last traded at $50.09. Approximately 358,140 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,061,033 shares. The stock had previously closed at $51.09.

Analyst Ratings Changes

WPM has been the subject of a number of research analyst reports. National Bank Financial lowered Wheaton Precious Metals from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, February 21st. BMO Capital Markets decreased their price objective on Wheaton Precious Metals from $61.00 to $59.00 and set an "outperform" rating on the stock in a report on Wednesday, February 21st. Berenberg Bank boosted their price target on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, March 27th. CIBC upped their price objective on Wheaton Precious Metals from $66.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, February 7th. Finally, Scotiabank cut their price objective on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.81.

Wheaton Precious Metals Price Performance

The business has a fifty day simple moving average of $44.75 and a two-hundred day simple moving average of $45.21. The company has a market cap of $22.67 billion, a PE ratio of 42.93, a price-to-earnings-growth ratio of 12.77 and a beta of 0.77.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd will be issued a $0.155 dividend. This is a boost from Wheaton Precious Metals's previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Tuesday, April 2nd. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 52.10%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WPM. Trust Co. of Toledo NA OH increased its position in shares of Wheaton Precious Metals by 5.1% during the first quarter. Trust Co. of Toledo NA OH now owns 12,825 shares of the company's stock worth $604,000 after purchasing an additional 625 shares in the last quarter. Confluence Investment Management LLC acquired a new position in Wheaton Precious Metals during the 1st quarter valued at about $532,000. Grayhawk Investment Strategies Inc. acquired a new position in Wheaton Precious Metals during the 4th quarter valued at about $689,000. Vanguard Group Inc. raised its stake in Wheaton Precious Metals by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 16,497,557 shares of the company's stock valued at $813,989,000 after buying an additional 294,488 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in Wheaton Precious Metals in the fourth quarter worth about $247,000. 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 10, 2017. Wheaton Precious Metals Corp.