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

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 3,430,000 shares, a decline of 28.5% from the April 30th total of 4,800,000 shares. Based on an average trading volume of 2,060,000 shares, the short-interest ratio is currently 1.7 days. Approximately 0.8% of the company's stock are sold short.

Wheaton Precious Metals Stock Down 0.5%

WPM traded down $0.47 during trading on Tuesday, hitting $91.36. 1,032,912 shares of the company's stock were exchanged, compared to its average volume of 1,676,382. Wheaton Precious Metals has a fifty-two week low of $51.96 and a fifty-two week high of $91.88. The stock has a market cap of $41.46 billion, a P/E ratio of 68.18, a PEG ratio of 1.91 and a beta of 0.49. The business's 50 day moving average is $81.10 and its two-hundred day moving average is $69.94.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $470.41 million for the quarter, compared to analysts' expectations of $446.33 million. During the same period in the previous year, the business posted $0.36 EPS. The business's revenue for the quarter was up 58.4% compared to the same quarter last year. On average, sell-side analysts forecast that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.72%. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 48.53%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a report on Friday, April 4th. UBS Group lifted their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a report on Friday, April 11th. Scotiabank lifted their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research note on Monday, April 14th. Raymond James raised their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Finally, CIBC boosted their price target on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $85.90.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. increased its holdings in Wheaton Precious Metals by 2.9% in the 1st quarter. Pacer Advisors Inc. now owns 4,144 shares of the company's stock worth $322,000 after buying an additional 117 shares in the last quarter. Asahi Life Asset Management CO. LTD. grew its stake in shares of Wheaton Precious Metals by 2.8% during the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company's stock valued at $393,000 after purchasing an additional 140 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of Wheaton Precious Metals by 2.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company's stock valued at $523,000 after buying an additional 140 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of Wheaton Precious Metals by 9.0% during the 1st quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock valued at $142,000 after buying an additional 151 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Wheaton Precious Metals by 2.9% during the 1st quarter. Allworth Financial LP now owns 5,715 shares of the company's stock valued at $470,000 after acquiring an additional 161 shares during the period. Hedge funds and other 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 2017. Wheaton Precious Metals Corp.