Standpoint Research Lowers Wheaton Precious Metals (NYSE:WPM) to Hold

Standpoint Research cut shares of Wheaton Precious Metals (NYSE:WPM) from a buy rating to a hold rating in a research note issued to investors on Friday, March 29th, The Fly reports.

Other equities research analysts have also issued reports about the stock. Raymond James set a $28.00 price objective on shares of Wheaton Precious Metals and gave the company a buy rating in a report on Thursday, March 21st. TD Securities increased their target price on shares of Wheaton Precious Metals from $29.00 to $32.00 and gave the company a buy rating in a research report on Tuesday, March 26th. TheStreet raised shares of Wheaton Precious Metals from a c+ rating to a b- rating in a research report on Thursday, February 21st. Canaccord Genuity reaffirmed an average rating and issued a $41.00 target price on shares of Wheaton Precious Metals in a research report on Sunday, December 16th. Finally, ValuEngine raised shares of Wheaton Precious Metals from a hold rating to a buy rating in a research report on Wednesday, December 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Wheaton Precious Metals currently has an average rating of Hold and a consensus price target of $32.00.

Wheaton Precious Metals stock traded down $0.18 during mid-day trading on Friday, reaching $21.96. 3,175,282 shares of the company’s stock were exchanged, compared to its average volume of 3,112,825. The firm has a market cap of $9.76 billion and a PE ratio of 45.75. Wheaton Precious Metals has a twelve month low of $15.08 and a twelve month high of $25.24. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.24.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Wednesday, March 20th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. The company had revenue of $196.59 million for the quarter, compared to analyst estimates of $191.71 million. Wheaton Precious Metals had a net margin of 53.79% and a return on equity of 4.18%. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. On average, equities research analysts anticipate that Wheaton Precious Metals will post 0.56 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, April 5th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, April 4th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 75.00%.

Several hedge funds have recently added to or reduced their stakes in WPM. Janney Montgomery Scott LLC acquired a new stake in shares of Wheaton Precious Metals in the 3rd quarter worth $333,000. SG Americas Securities LLC lifted its stake in shares of Wheaton Precious Metals by 93.2% in the third quarter. SG Americas Securities LLC now owns 32,529 shares of the company’s stock valued at $569,000 after purchasing an additional 15,689 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Wheaton Precious Metals by 8.9% in the third quarter. Alliancebernstein L.P. now owns 160,624 shares of the company’s stock valued at $2,811,000 after purchasing an additional 13,089 shares during the period. AXA lifted its stake in shares of Wheaton Precious Metals by 6.9% in the third quarter. AXA now owns 91,931 shares of the company’s stock valued at $1,609,000 after purchasing an additional 5,922 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Wheaton Precious Metals by 90.1% in the third quarter. Janus Henderson Group PLC now owns 353,613 shares of the company’s stock valued at $6,184,000 after purchasing an additional 167,561 shares during the period. Institutional investors own 55.47% of the company’s stock.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. operates as a silver and gold streaming company in Canada and internationally. It has streaming agreements for 20 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.

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Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

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