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April 18, 2024
PI Global Investments
Precious Metals

Wheaton Precious Metals (NYSE:WPM) Sees Large Volume Increase


Shares of Wheaton Precious Metals Corp. (NYSE:WPMGet Free Report) saw strong trading volume on Tuesday . 3,615,157 shares traded hands during mid-day trading, an increase of 77% from the previous session’s volume of 2,037,221 shares.The stock last traded at $48.37 and had previously closed at $47.64.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. National Bank Financial cut Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. TD Securities raised Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price target for the company from $51.00 to $53.00 in a research note on Monday, March 18th. BMO Capital Markets cut their price target on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Berenberg Bank lifted their price target on Wheaton Precious Metals from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, Jefferies Financial Group began coverage on Wheaton Precious Metals in a research note on Thursday, February 29th. They set a “buy” rating and a $49.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $60.81.

View Our Latest Stock Analysis on Wheaton Precious Metals

Wheaton Precious Metals Price Performance

The firm has a market capitalization of $22.01 billion, a P/E ratio of 40.82, a P/E/G ratio of 12.24 and a beta of 0.77. The stock has a fifty day simple moving average of $44.61 and a two-hundred day simple moving average of $45.13.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be issued a $0.155 dividend. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Tuesday, April 2nd. Wheaton Precious Metals’s payout ratio is presently 50.42%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Confluence Investment Management LLC bought a new stake in shares of Wheaton Precious Metals during the first quarter valued at approximately $532,000. Grayhawk Investment Strategies Inc. bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $689,000. Vanguard Group Inc. increased its holdings in shares of Wheaton Precious Metals by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 16,497,557 shares of the company’s stock valued at $813,989,000 after acquiring an additional 294,488 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $247,000. Finally, Wellington Management Group LLP grew its holdings in Wheaton Precious Metals by 20.9% during the fourth quarter. Wellington Management Group LLP now owns 86,639 shares of the company’s stock worth $4,295,000 after buying an additional 14,972 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

About Wheaton Precious Metals

(Get Free Report)

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 10, 2017. Wheaton Precious Metals Corp.

See Also

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