Wheaton Precious Metals (NYSE:WPM) Shares Down 2%

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) were down 2% on Thursday . The company traded as low as $49.74 and last traded at $50.09. Approximately 358,140 shares traded hands during trading, a decline of 83% from the average daily volume of 2,061,033 shares. The stock had previously closed at $51.09.

Analyst Ratings Changes

WPM has been the topic of several analyst reports. 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. TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their target price for the company from $51.00 to $53.00 in a research report on Monday, March 18th. CIBC lifted their price target on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Jefferies Financial Group started coverage on Wheaton Precious Metals in a report on Thursday, February 29th. They set a “buy” rating and a $49.00 price objective for the company. Finally, Scotiabank decreased their price target on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 28th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $60.81.

Wheaton Precious Metals Stock Down 1.2 %

The company has a market capitalization of $22.88 billion, a PE ratio of 42.93, a PEG ratio of 12.77 and a beta of 0.77. The firm has a 50-day moving average of $44.75 and a two-hundred day moving average of $45.21.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Wednesday, April 3rd will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, April 2nd. This is an increase 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 1.23%. Wheaton Precious Metals’s dividend payout ratio is 52.10%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Wheaton Precious Metals by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock worth $301,893,000 after acquiring an additional 361,138 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Wheaton Precious Metals by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 481,497 shares of the company’s stock valued at $22,909,000 after acquiring an additional 4,497 shares during the last quarter. US Bancorp DE raised its holdings in shares of Wheaton Precious Metals by 4.9% during the first quarter. US Bancorp DE now owns 11,778 shares of the company’s stock valued at $561,000 after acquiring an additional 551 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Wheaton Precious Metals by 21.3% in the first quarter. PNC Financial Services Group Inc. now owns 20,122 shares of the company’s stock valued at $957,000 after acquiring an additional 3,535 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Wheaton Precious Metals by 245.5% during the first quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after purchasing an additional 1,798,086 shares in the last quarter. Institutional investors and hedge funds 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.