Wheaton Precious Metals (NYSE:WPM) Cut to “Sector Perform” at Royal Bank of Canada

Wheaton Precious Metals (NYSE:WPM – Get Rating) was downgraded by investment analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report released on Tuesday, The Fly reports.

WPM has been the topic of several other reports. National Bankshares boosted their price target on Wheaton Precious Metals from C$72.50 to C$80.00 and gave the company an “outperform” rating in a research note on Monday, May 8th. Canaccord Genuity Group lifted their price target on shares of Wheaton Precious Metals from C$67.00 to C$75.00 in a research note on Tuesday, April 4th. National Bank Financial increased their price objective on shares of Wheaton Precious Metals to C$80.00 in a research note on Monday, May 8th. TD Securities lifted their target price on shares of Wheaton Precious Metals from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, May 8th. Finally, The Goldman Sachs Group lowered shares of Wheaton Precious Metals from a “buy” rating to a “neutral” rating in a research report on Thursday, April 20th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $350.63.

Wheaton Precious Metals Stock Down 0.8 %

Shares of WPM stock traded down $0.35 during trading hours on Tuesday, reaching $44.60. 722,021 shares of the company’s stock were exchanged, compared to its average volume of 2,314,467. Wheaton Precious Metals has a fifty-two week low of $28.62 and a fifty-two week high of $52.76. The stock has a market capitalization of $20.20 billion, a P/E ratio of 32.57, a P/E/G ratio of 7.87 and a beta of 0.58. The business has a fifty day moving average price of $48.96 and a 200-day moving average price of $43.83.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last released its earnings results on Friday, May 5th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The firm had revenue of $214.00 million during the quarter, compared to analysts’ expectations of $237.87 million. Wheaton Precious Metals had a net margin of 64.08% and a return on equity of 6.81%. The business’s quarterly revenue was down 30.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. As a group, research analysts expect that Wheaton Precious Metals will post 1.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Chantal Gosselin sold 3,000 shares of the business’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $65.70, for a total transaction of $197,085.00.

Institutional Trading of Wheaton Precious Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPM. AE Wealth Management LLC grew its position in shares of Wheaton Precious Metals by 1.2% during the 4th quarter. AE Wealth Management LLC now owns 20,679 shares of the company’s stock worth $808,000 after buying an additional 246 shares during the period. D.A. Davidson & CO. boosted its position in shares of Wheaton Precious Metals by 0.7% in the 1st quarter. D.A. Davidson & CO. now owns 34,072 shares of the company’s stock worth $1,641,000 after purchasing an additional 248 shares during the last quarter. First Personal Financial Services grew its stake in shares of Wheaton Precious Metals by 24.4% during the fourth quarter. First Personal Financial Services now owns 1,335 shares of the company’s stock worth $52,000 after purchasing an additional 262 shares during the period. Allworth Financial LP increased its holdings in Wheaton Precious Metals by 67.3% in the first quarter. Allworth Financial LP now owns 654 shares of the company’s stock valued at $31,000 after purchasing an additional 263 shares during the last quarter. Finally, Confluence Investment Management LLC grew its position in shares of Wheaton Precious Metals by 2.0% during the 1st quarter. Confluence Investment Management LLC now owns 13,677 shares of the company’s stock worth $659,000 after buying an additional 274 shares during the period. 57.01% of the stock is owned by institutional investors.

Wheaton Precious Metals Company Profile

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Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.