Wheaton Precious Metals (NYSE:WPM) Shares Gap Down – Here’s What Happened

Wheaton Precious Metals Corp. (NYSE:WPM) gapped down before the market opened on Monday . The stock had previously closed at $63.81, but opened at $61.61. Wheaton Precious Metals shares last traded at $62.05, with a volume of 18,019 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WPM. Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Raymond James raised their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. TD Securities boosted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Scotiabank lifted their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Stock Performance

The company has a market capitalization of $28.02 billion, a PE ratio of 45.85, a PEG ratio of 2.33 and a beta of 0.77. The stock has a fifty day moving average of $63.01 and a 200 day moving average of $59.20.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The firm had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, equities analysts predict that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.155 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.00%. Wheaton Precious Metals’s payout ratio is 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of hedge funds have recently made changes to their positions in the company. Insigneo Advisory Services LLC increased its stake in Wheaton Precious Metals by 2.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock worth $522,000 after acquiring an additional 187 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Wheaton Precious Metals by 6.1% during the second quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after purchasing an additional 190 shares during the period. Principal Financial Group Inc. grew its stake in Wheaton Precious Metals by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock worth $1,208,000 after acquiring an additional 196 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Wheaton Precious Metals by 0.6% during the third quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock valued at $2,110,000 after acquiring an additional 197 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in Wheaton Precious Metals by 1.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock valued at $1,318,000 after purchasing an additional 210 shares in the last quarter. 70.34% of the stock is currently 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.