Wheaton Precious Metals (NYSE:WPM) Shares Gap Down – Should You Sell?

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) gapped down prior to trading 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 trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WPM shares. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group increased their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. TD Securities boosted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Raymond James lifted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, UBS Group initiated coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 target price for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Stock Performance

The stock has a market capitalization of $28.15 billion, a P/E ratio of 46.31, a PEG ratio of 2.23 and a beta of 0.77. The business has a 50-day moving average price of $62.99 and a 200 day moving average price of $59.24.

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

Wheaton Precious Metals Announces Dividend

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

Institutional Investors Weigh In On Wheaton Precious Metals

Large investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its holdings in shares of Wheaton Precious Metals by 1.1% during the 3rd quarter. Tidal Investments LLC now owns 791,938 shares of the company’s stock valued at $48,372,000 after acquiring an additional 8,399 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Wheaton Precious Metals during the third quarter valued at approximately $1,832,000. Te Ahumairangi Investment Management Ltd boosted its holdings in Wheaton Precious Metals by 1.0% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 67,392 shares of the company’s stock worth $4,097,000 after purchasing an additional 668 shares during the last quarter. Virtu Financial LLC bought a new stake in Wheaton Precious Metals in the 3rd quarter worth approximately $284,000. Finally, Toronto Dominion Bank raised its stake in Wheaton Precious Metals by 58.2% during the 3rd quarter. Toronto Dominion Bank now owns 876,342 shares of the company’s stock valued at $53,527,000 after buying an additional 322,339 shares during the last quarter. 70.34% of the stock is currently owned by 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.