Wheaton Precious Metals (NYSE:WPM) Sees Strong Trading Volume

Wheaton Precious Metals Corp. (NYSE:WPM) shares saw an uptick in trading volume on Tuesday . 3,615,157 shares were traded 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 research firms have weighed in on WPM. CIBC upped their price target on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Berenberg Bank upped their price target on Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. BMO Capital Markets reduced their price target on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Raymond James reduced their price target on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Thursday, February 22nd. Finally, Scotiabank dropped their price objective 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. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.81.

Wheaton Precious Metals Trading Up 3.9 %

The firm has a fifty day simple moving average of $44.75 and a two-hundred day simple moving average of $45.21. The firm has a market cap of $23.15 billion, a PE ratio of 42.93, a PEG ratio of 12.77 and a beta of 0.77.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be paid a dividend of $0.155 per share. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, April 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 1.21%. Wheaton Precious Metals’s payout ratio is presently 52.10%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC purchased a new position in Wheaton Precious Metals during the first quarter valued at $532,000. Grayhawk Investment Strategies Inc. bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth $689,000. Vanguard Group Inc. increased its holdings 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 worth $813,989,000 after purchasing an additional 294,488 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth $247,000. Finally, Wellington Management Group LLP increased its holdings in shares of Wheaton Precious Metals by 20.9% in the 4th quarter. Wellington Management Group LLP now owns 86,639 shares of the company’s stock worth $4,295,000 after purchasing an additional 14,972 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

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.