Wheaton Precious Metals (NYSE:WPM) Shares Gap Down – Time to Sell?

Wheaton Precious Metals Corp. (NYSE:WPM)’s share price 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.

Analyst Upgrades and Downgrades

WPM has been the subject of several analyst reports. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Scotiabank boosted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. TD Securities increased their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group boosted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Stock Down 3.2 %

The business has a 50 day moving average price of $63.01 and a 200 day moving average price of $59.20. The stock has a market cap of $28.02 billion, a PE ratio of 45.85, a P/E/G ratio of 2.33 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter last year, the company earned $0.27 EPS. On average, research analysts predict that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors have recently modified their holdings of the business. Insigneo Advisory Services LLC boosted its position in Wheaton Precious Metals by 2.2% during the third quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock worth $522,000 after purchasing an additional 187 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock worth $175,000 after buying an additional 190 shares during the period. Principal Financial Group Inc. lifted its position in shares of Wheaton Precious Metals by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock valued at $1,208,000 after buying an additional 196 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Wheaton Precious Metals by 0.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock valued at $2,110,000 after acquiring an additional 197 shares during the period. Finally, Arkadios Wealth Advisors increased its holdings in Wheaton Precious Metals by 1.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock worth $1,318,000 after acquiring an additional 210 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

About Wheaton Precious Metals

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.