Wheaton Precious Metals (NYSE:WPM) Trading Down 3.2% - What's Next?

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) shares were down 3.2% during trading on Friday . The stock traded as low as $88.44 and last traded at $88.63. Approximately 1,310,112 shares were traded during trading, a decline of 22% from the average daily volume of 1,678,739 shares. The stock had previously closed at $91.59.

Analyst Ratings Changes

WPM has been the topic of a number of research reports. CIBC raised their price target on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. Raymond James boosted their target price on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Scotiabank boosted their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research report on Monday, April 14th. Royal Bank of Canada boosted their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Finally, UBS Group boosted their target price on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $86.90.

Wheaton Precious Metals Price Performance

The business has a 50-day simple moving average of $82.46 and a 200-day simple moving average of $70.92. The firm has a market capitalization of $40.41 billion, a PE ratio of 66.46, a P/E/G ratio of 1.91 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly 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 net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $470.41 million during the quarter, compared to analysts' expectations of $446.33 million. During the same period in the previous year, the company earned $0.36 EPS. The firm's revenue for the quarter was up 58.4% compared to the same quarter last year. On average, research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be paid a dividend of $0.165 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.74%. Wheaton Precious Metals's dividend payout ratio is presently 48.53%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of large investors have recently made changes to their positions in the company. Promus Capital LLC purchased a new position in Wheaton Precious Metals during the 4th quarter valued at $32,000. NBT Bank N A NY boosted its holdings in Wheaton Precious Metals by 129.3% during the 1st 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 purchased a new position in Wheaton Precious Metals during the 4th quarter valued at $38,000. Wealth Preservation Advisors LLC purchased a new position in Wheaton Precious Metals during the 1st quarter valued at $38,000. Finally, Quintet Private Bank Europe S.A. purchased a new position in Wheaton Precious Metals during the 4th quarter valued at $39,000. 70.34% of the stock is owned by hedge funds and other 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.