Wheaton Precious Metals (NYSE:WPM) Shares Gap Down - What's Next?

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $85.77, but opened at $81.74. Wheaton Precious Metals shares last traded at $79.95, with a volume of 504,676 shares changing hands.

Analysts Set New Price Targets

WPM has been the topic of several research reports. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a report on Monday, April 14th. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. UBS Group lifted their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a report on Friday, April 11th. StockNews.com raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, CIBC lifted 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 issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $85.90.

Wheaton Precious Metals Trading Down 0.5%

The firm's 50-day moving average is $78.69 and its 200 day moving average is $68.12. The firm has a market capitalization of $35.56 billion, a price-to-earnings ratio of 58.47, a P/E/G ratio of 1.91 and a beta of 0.49.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $446.33 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company's revenue for the quarter was up 58.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 EPS. Analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be given 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 0.84%. Wheaton Precious Metals's payout ratio is presently 48.53%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Wheaton Precious Metals during the 4th quarter valued at $20,790,000. Sei Investments Co. boosted its holdings in shares of Wheaton Precious Metals by 25.7% in the 4th quarter. Sei Investments Co. now owns 40,769 shares of the company's stock worth $2,293,000 after buying an additional 8,331 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Wheaton Precious Metals by 9.1% in the 4th quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company's stock worth $22,442,000 after buying an additional 33,256 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Wheaton Precious Metals by 5.7% during the fourth quarter. Pacer Advisors Inc. now owns 4,027 shares of the company's stock valued at $226,000 after purchasing an additional 216 shares during the last quarter. Finally, Addenda Capital Inc. lifted its holdings in Wheaton Precious Metals by 5.0% during the fourth quarter. Addenda Capital Inc. now owns 1,321,835 shares of the company's stock valued at $74,340,000 after purchasing an additional 62,590 shares during the last quarter. Institutional investors and hedge funds 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.