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

Wheaton Precious Metals Corp. (NYSE:WPM) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 7,740,000 shares, a drop of 20.8% from the September 15th total of 9,770,000 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average trading volume of 1,500,000 shares, the short-interest ratio is presently 5.2 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. AdvisorNet Financial Inc grew its stake in Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after acquiring an additional 190 shares in the last quarter. Capital International Inc. CA boosted its stake in shares of Wheaton Precious Metals by 2.5% during the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after buying an additional 204 shares during the period. Western Pacific Wealth Management LP grew its holdings in shares of Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after acquiring an additional 218 shares in the last quarter. Brookstone Capital Management increased its stake in shares of Wheaton Precious Metals by 5.3% in the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock worth $225,000 after acquiring an additional 240 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Wheaton Precious Metals by 25.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after acquiring an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WPM. Bank of America lifted their target price on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. TD Securities reduced their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Scotiabank raised their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group raised their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Berenberg Bank upped their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus price target of $69.88.

Wheaton Precious Metals Trading Down 0.4 %

Shares of Wheaton Precious Metals stock traded down $0.25 on Friday, reaching $60.71. 1,858,988 shares of the company were exchanged, compared to its average volume of 1,590,091. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $64.82. The firm has a market capitalization of $27.54 billion, a price-to-earnings ratio of 48.18, a price-to-earnings-growth ratio of 2.20 and a beta of 0.78. The stock has a fifty day moving average price of $60.27 and a 200-day moving average price of $56.61.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. On average, equities analysts anticipate that Wheaton Precious Metals will post 1.43 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were issued a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. Wheaton Precious Metals’s payout ratio is currently 49.21%.

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.