Wheaton Precious Metals (NYSE:WPM) Shares Down 5.1% - Should You Sell?

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report)'s stock price fell 5.1% during mid-day trading on Tuesday . The stock traded as low as $89.31 and last traded at $87.93. 291,693 shares traded hands during trading, a decline of 83% from the average session volume of 1,709,054 shares. The stock had previously closed at $92.61.

Analysts Set New Price Targets

Several brokerages have issued reports on WPM. UBS Group boosted their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research note on Friday, April 11th. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Berenberg Bank boosted their target price on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. CIBC boosted their target price on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th. Finally, Royal Bank Of Canada boosted their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $93.00.

Wheaton Precious Metals Trading Down 6.4%

The firm's fifty day moving average price is $86.90 and its 200 day moving average price is $75.06. The firm has a market capitalization of $39.37 billion, a PE ratio of 63.76, a PEG ratio of 2.80 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. The firm had revenue of $470.41 million during the quarter, compared to analysts' expectations of $446.33 million. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. Wheaton Precious Metals's revenue for the quarter was up 58.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, research analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio is presently 48.53%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of large investors have recently bought and sold shares of WPM. NBT Bank N A NY boosted its holdings in Wheaton Precious Metals by 129.3% during the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after acquiring an additional 234 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Wheaton Precious Metals during the fourth quarter valued at about $38,000. Wealth Preservation Advisors LLC bought a new stake in Wheaton Precious Metals during the first quarter valued at about $38,000. Headlands Technologies LLC boosted its holdings in Wheaton Precious Metals by 494.9% during the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after acquiring an additional 579 shares during the period. Finally, Flagship Wealth Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $41,000. 70.34% of the stock is currently owned by institutional investors.

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 2017. Wheaton Precious Metals Corp.