Zacks Investment Research Lowers Wheaton Precious Metals (WPM) to Sell

Zacks Investment Research lowered shares of Wheaton Precious Metals (NYSE:WPM) from a hold rating to a sell rating in a research report released on Friday morning.

According to Zacks, “Wheaton Precious Metals Corp. operates as a silver and gold streaming company. Wheaton Precious Metals Corp, formerly known as Silver Wheaton Corp, is headquartered in Vancouver, Canada. “

WPM has been the subject of several other reports. Deutsche Bank set a $25.00 price objective on Wheaton Precious Metals and gave the company a buy rating in a research note on Tuesday, October 2nd. ValuEngine lowered Wheaton Precious Metals from a hold rating to a sell rating in a research note on Tuesday, August 28th. Raymond James raised their price objective on Wheaton Precious Metals from $26.00 to $28.00 and gave the company an outperform rating in a research note on Friday, September 28th. Barclays started coverage on Wheaton Precious Metals in a research note on Wednesday, October 10th. They set an overweight rating for the company. Finally, TheStreet lowered Wheaton Precious Metals from a b- rating to a c+ rating in a research note on Monday, November 12th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $25.60.

Shares of NYSE:WPM traded up $0.35 during trading on Friday, hitting $16.55. The company had a trading volume of 2,416,975 shares, compared to its average volume of 2,450,332. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 6.35 and a beta of 0.41. Wheaton Precious Metals has a one year low of $15.08 and a one year high of $22.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 8.04 and a quick ratio of 8.04.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Wednesday, November 14th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $185.77 million during the quarter, compared to the consensus estimate of $191.11 million. Wheaton Precious Metals had a net margin of 33.64% and a return on equity of 5.14%. Wheaton Precious Metals’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. As a group, analysts expect that Wheaton Precious Metals will post 0.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Friday, November 30th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Thursday, November 29th. Wheaton Precious Metals’s dividend payout ratio is currently 57.14%.

Several hedge funds have recently modified their holdings of the stock. Wedbush Securities Inc. lifted its stake in shares of Wheaton Precious Metals by 9.7% during the 2nd quarter. Wedbush Securities Inc. now owns 29,281 shares of the company’s stock worth $646,000 after acquiring an additional 2,582 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Wheaton Precious Metals by 0.6% during the 2nd quarter. Baird Financial Group Inc. now owns 428,914 shares of the company’s stock worth $9,462,000 after acquiring an additional 2,675 shares during the last quarter. Parsons Capital Management Inc. RI lifted its stake in shares of Wheaton Precious Metals by 8.2% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 39,221 shares of the company’s stock worth $865,000 after acquiring an additional 2,966 shares during the last quarter. Usca Ria LLC lifted its stake in shares of Wheaton Precious Metals by 18.3% during the 3rd quarter. Usca Ria LLC now owns 19,377 shares of the company’s stock worth $339,000 after acquiring an additional 3,001 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in shares of Wheaton Precious Metals by 34.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 14,504 shares of the company’s stock worth $254,000 after acquiring an additional 3,750 shares during the last quarter. 54.21% of the stock is owned by hedge funds and other institutional investors.

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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