Wheaton Precious Metals (NYSE:WPM) Sees Large Volume Increase

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) saw strong trading volume on Tuesday . 3,615,157 shares traded hands during trading, an increase of 77% from the previous session’s volume of 2,037,221 shares.The stock last traded at $48.37 and had previously closed at $47.64.

Analyst Ratings Changes

A number of equities analysts have weighed in on WPM shares. Scotiabank decreased their target price on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 28th. Berenberg Bank increased their price objective on Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. National Bank Financial lowered Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. BMO Capital Markets cut their target price on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Finally, Raymond James cut their target price on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.81.

Wheaton Precious Metals Price Performance

The company’s 50 day simple moving average is $44.61 and its 200 day simple moving average is $45.13. The firm has a market cap of $22.01 billion, a price-to-earnings ratio of 40.82, a P/E/G ratio of 12.24 and a beta of 0.77.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Wednesday, April 3rd will be given a $0.155 dividend. The ex-dividend date is Tuesday, April 2nd. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 1.28%. Wheaton Precious Metals’s payout ratio is 50.42%.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently made changes to their positions in the business. First Eagle Investment Management LLC grew its position in Wheaton Precious Metals by 0.5% during the fourth quarter. First Eagle Investment Management LLC now owns 21,110,441 shares of the company’s stock worth $1,041,589,000 after buying an additional 112,178 shares during the period. Van ECK Associates Corp raised its stake in shares of Wheaton Precious Metals by 9.9% in the 4th quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock valued at $1,012,517,000 after acquiring an additional 1,856,031 shares during the period. Vanguard Group Inc. raised its stake in shares of Wheaton Precious Metals by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 16,497,557 shares of the company’s stock valued at $813,989,000 after acquiring an additional 294,488 shares during the period. FIL Ltd grew its holdings in Wheaton Precious Metals by 5.5% during the 4th quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock valued at $525,235,000 after purchasing an additional 550,804 shares in the last quarter. Finally, Norges Bank acquired a new stake in Wheaton Precious Metals during the 4th quarter valued at $387,481,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

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 10, 2017. Wheaton Precious Metals Corp.