GMP Securities Downgrades Wheaton Precious Metals (WPM) to Hold

GMP Securities lowered shares of Wheaton Precious Metals (NYSE:WPM) from a buy rating to a hold rating in a research note released on Tuesday, The Fly reports. The firm currently has $26.00 price objective on the stock.

Several other research analysts also recently weighed in on WPM. TheStreet upgraded Wheaton Precious Metals from a c+ rating to a b- rating in a research note on Thursday, February 21st. Raymond James set a $28.00 price target on Wheaton Precious Metals and gave the stock a buy rating in a research note on Thursday, March 21st. TD Securities upped their price target on Wheaton Precious Metals from $29.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, March 26th. Standpoint Research downgraded Wheaton Precious Metals from a buy rating to a hold rating in a research note on Friday, March 29th. Finally, Barclays downgraded Wheaton Precious Metals from an overweight rating to an equal weight rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $31.14.

WPM stock opened at $21.39 on Tuesday. Wheaton Precious Metals has a 1-year low of $15.08 and a 1-year 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. The company has a market capitalization of $9.59 billion and a price-to-earnings ratio of 44.56.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, April 5th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.36 annualized dividend and a dividend yield of 1.68%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 75.00%.

Several institutional investors and hedge funds have recently modified their holdings of WPM. Arcadia Investment Management Corp MI raised its holdings in shares of Wheaton Precious Metals by 52.1% during the 4th quarter. Arcadia Investment Management Corp MI now owns 4,377 shares of the company’s stock worth $85,000 after acquiring an additional 1,500 shares in the last quarter. Midas Management Corp purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter worth approximately $117,000. Quadrant Capital Group LLC raised its holdings in shares of Wheaton Precious Metals by 2,358.3% during the 4th quarter. Quadrant Capital Group LLC now owns 7,252 shares of the company’s stock worth $138,000 after acquiring an additional 6,957 shares in the last quarter. We Are One Seven LLC purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter worth approximately $165,000. Finally, Cerebellum GP LLC raised its holdings in shares of Wheaton Precious Metals by 5.3% during the 4th quarter. Cerebellum GP LLC now owns 11,380 shares of the company’s stock worth $222,000 after acquiring an additional 575 shares in the last quarter. 55.66% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 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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