Wheaton Precious Metals (NYSE:WPM) Trading 2.9% Higher

Wheaton Precious Metals Corp. (NYSE:WPM) traded up 2.9% on Thursday . The stock traded as high as $45.89 and last traded at $45.88. 188,932 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,956,992 shares. The stock had previously closed at $44.59.

Wall Street Analyst Weigh In

WPM has been the subject of several recent analyst reports. National Bank Financial lowered their target price on shares of Wheaton Precious Metals from C$75.00 to C$72.50 in a research note on Monday, September 25th. Raymond James raised their price objective on Wheaton Precious Metals from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday. TheStreet cut Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. Berenberg Bank lowered their price target on Wheaton Precious Metals from $61.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, October 11th. Finally, StockNews.com began coverage on Wheaton Precious Metals in a report on Thursday, October 5th. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $60.96.

Wheaton Precious Metals Stock Performance

The firm’s 50-day simple moving average is $42.65 and its 200 day simple moving average is $44.01. The stock has a market capitalization of $20.72 billion, a P/E ratio of 38.43, a PEG ratio of 3.19 and a beta of 0.59.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Tuesday, November 28th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.31%. Wheaton Precious Metals’s dividend payout ratio is presently 50.42%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently modified their holdings of WPM. Atlas Capital Advisors LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at about $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in Wheaton Precious Metals by 54.7% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock valued at $31,000 after acquiring an additional 280 shares during the period. Glass Jacobson Investment Advisors llc bought a new position in Wheaton Precious Metals in the 2nd quarter valued at about $33,000. Mechanics Financial Corp raised its holdings in Wheaton Precious Metals by 200.0% in the 3rd quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock valued at $36,000 after acquiring an additional 600 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its holdings in Wheaton Precious Metals by 38.6% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,178 shares of the company’s stock valued at $48,000 after acquiring an additional 328 shares during the period. 58.51% of the stock is 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 10, 2017. Wheaton Precious Metals Corp.