Wheaton Precious Metals Corp. (NYSE:WPM – Get Free Report) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 7,740,000 shares, a decrease of 20.8% from the September 15th total of 9,770,000 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is currently 5.2 days.
Institutional Trading of Wheaton Precious Metals
A number of hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new stake in Wheaton Precious Metals during the 2nd quarter worth $31,000. Abich Financial Wealth Management LLC acquired a new position in shares of Wheaton Precious Metals in the second quarter worth about $31,000. Sunbelt Securities Inc. purchased a new position in Wheaton Precious Metals in the second quarter valued at about $47,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the 1st quarter worth approximately $52,000. Finally, Western Pacific Wealth Management LP raised its position in shares of Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.
Wheaton Precious Metals Price Performance
WPM stock traded down $0.25 during midday trading on Friday, reaching $60.71. 1,858,988 shares of the company’s stock traded hands, 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 business has a 50-day moving average price of $60.27 and a two-hundred day moving average price of $56.61. The company has a market capitalization of $27.54 billion, a P/E ratio of 48.18, a PEG ratio of 2.20 and a beta of 0.78.
Wheaton Precious Metals Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 49.21%.
Analyst Upgrades and Downgrades
WPM has been the topic of several recent research reports. Berenberg Bank upped their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Scotiabank raised their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group boosted 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 report on Friday, October 4th. Bank of America raised their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, TD Securities cut their price target on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $69.88.
Get Our Latest Research Report on Wheaton Precious Metals
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.
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