Wheaton Precious Metals (NYSE:WPM) Sees Unusually-High Trading Volume

Shares of Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 3,615,157 shares changed hands during mid-day trading, an increase of 77% from the previous session's volume of 2,037,221 shares.The stock last traded at $48.37 and had previously closed at $47.64.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WPM shares. TD Securities raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating and raised their price objective for the stock from $51.00 to $53.00 in a report on Monday, March 18th. CIBC increased their target price on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 7th. Raymond James lowered their target price on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a "market perform" rating on the stock in a research note on Thursday, February 22nd. Scotiabank lowered their target price on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, February 28th. Finally, BMO Capital Markets lowered their target price on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 21st. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of "Moderate Buy" and a consensus target price of $60.81.

Wheaton Precious Metals Stock Performance

The company's 50-day moving average price is $44.65 and its two-hundred day moving average price is $45.17. The stock has a market cap of $22.28 billion, a PE ratio of 41.33, a PEG ratio of 12.24 and a beta of 0.77.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Wednesday, April 3rd will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, April 2nd. This represents a $0.62 annualized dividend and a dividend yield of 1.26%. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.15. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 50.42%.

Hedge Funds Weigh In On Wheaton Precious Metals

Several institutional investors and hedge funds have recently made changes to their positions in the business. CVA Family Office LLC bought a new stake in Wheaton Precious Metals in the 4th quarter worth $26,000. Atlas Capital Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $29,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $31,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of Wheaton Precious Metals by 54.7% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company's stock valued at $31,000 after purchasing an additional 280 shares in the last quarter. Finally, Mechanics Financial Corp boosted its stake in shares of Wheaton Precious Metals by 200.0% during the 3rd quarter. Mechanics Financial Corp now owns 900 shares of the company's stock valued at $36,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 70.34% of the company's stock.

About Wheaton Precious Metals

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.