Wheaton Precious Metals Corp (NYSE:WPM) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 5,800,000 shares, a growth of 27.8% from the September 30th total of 4,540,000 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 2,560,000 shares, the days-to-cover ratio is presently 2.3 days.
Shares of WPM traded up $0.63 during mid-day trading on Friday, reaching $27.09. The company had a trading volume of 598,171 shares, compared to its average volume of 2,230,153. The company’s 50 day simple moving average is $26.80 and its 200 day simple moving average is $25.25. Wheaton Precious Metals has a 1-year low of $15.08 and a 1-year high of $30.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.65 and a current ratio of 3.65. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 56.44, a P/E/G ratio of 9.20 and a beta of -0.08.
Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, November 14th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.16. The firm had revenue of $223.60 million for the quarter, compared to the consensus estimate of $235.93 million. Wheaton Precious Metals had a negative net margin of 3.33% and a positive return on equity of 3.35%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. As a group, equities analysts forecast that Wheaton Precious Metals will post 0.57 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on WPM shares. Credit Suisse Group upped their price target on shares of Wheaton Precious Metals from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Raymond James reiterated an “outperform” rating and set a $29.00 price objective on shares of Wheaton Precious Metals in a research note on Monday, August 12th. GMP Securities downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Zacks Investment Research downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating and set a $29.00 price target on the stock. in a research note on Saturday, October 19th. Finally, Bank of America raised their price target on shares of Wheaton Precious Metals from $33.50 to $35.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.82.
About Wheaton Precious Metals
Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.
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