Silver Wheaton Corp (NYSE:WPM) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Silver Wheaton Corp (NYSE:WPM) from a hold rating to a sell rating in a research report report published on Tuesday, October 17th.

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. “

Several other brokerages have also recently commented on WPM. Deutsche Bank AG reiterated a hold rating and issued a $29.00 target price (down from $31.00) on shares of Silver Wheaton Corp in a report on Sunday, June 25th. Royal Bank Of Canada set a $27.00 target price on shares of Silver Wheaton Corp and gave the stock a buy rating in a report on Monday, August 28th. Finally, BMO Capital Markets restated a buy rating and set a $28.00 price target on shares of Silver Wheaton Corp in a report on Wednesday, September 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Silver Wheaton Corp has an average rating of Buy and a consensus target price of $27.40.

Shares of Silver Wheaton Corp (NYSE:WPM) traded up $0.52 on Tuesday, hitting $20.99. 1,331,134 shares of the company’s stock traded hands, compared to its average volume of 2,300,000. Silver Wheaton Corp has a one year low of $16.94 and a one year high of $24.97. The firm has a market capitalization of $9,160.00, a PE ratio of 30.55, a price-to-earnings-growth ratio of 6.69 and a beta of 0.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 7.24 and a current ratio of 7.24.

Silver Wheaton Corp (NYSE:WPM) last announced its earnings results on Thursday, August 10th. The company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. Silver Wheaton Corp had a net margin of 25.05% and a return on equity of 5.90%. The company had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $217.81 million. During the same period last year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. sell-side analysts forecast that Silver Wheaton Corp will post 0.61 EPS for the current year.

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Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Silver Wheaton Corp during the second quarter worth approximately $146,000. Integrated Investment Consultants LLC acquired a new stake in shares of Silver Wheaton Corp during the second quarter worth approximately $159,000. First Manhattan Co. acquired a new stake in shares of Silver Wheaton Corp during the second quarter worth approximately $236,000. Atlantic Trust Group LLC acquired a new stake in shares of Silver Wheaton Corp during the second quarter worth approximately $238,000. Finally, IFP Advisors Inc acquired a new stake in shares of Silver Wheaton Corp during the second quarter worth approximately $393,000. Institutional investors and hedge funds own 48.22% of the company’s stock.

Silver Wheaton Corp Company Profile

Wheaton Precious Metals Corp, formerly Silver Wheaton Corp, is a Canada-based pure precious metals streaming company engaged in the sale of silver and gold. The Company operates through eight segments: the silver produced by the San Dimas, Penasquito and Antamina mines, the gold produced by the Sudbury and Salobo mines, the silver and gold produced by the Constancia mine and the Other mines, and corporate operations.

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