Wheaton Precious Metals Corp. (NYSE:WPM) Short Interest Down 61.5% in November

Wheaton Precious Metals Corp. (NYSE:WPM) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 3,130,000 shares, a decline of 61.5% from the November 15th total of 8,120,000 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average trading volume of 1,690,000 shares, the short-interest ratio is presently 1.9 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WPM. Ridgewood Investments LLC acquired a new position in Wheaton Precious Metals in the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter valued at approximately $47,000. St. Johns Investment Management Company LLC acquired a new position in shares of Wheaton Precious Metals in the 3rd quarter valued at $48,000. Finally, Dunhill Financial LLC boosted its holdings in Wheaton Precious Metals by 200.9% during the third quarter. Dunhill Financial LLC now owns 1,050 shares of the company’s stock worth $64,000 after buying an additional 701 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

NYSE WPM traded down $2.65 during midday trading on Thursday, hitting $61.40. 1,733,359 shares of the company traded hands, compared to its average volume of 1,767,660. The company has a market cap of $27.86 billion, a PE ratio of 47.79, a price-to-earnings-growth ratio of 1.72 and a beta of 0.75. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64. The company’s 50-day simple moving average is $62.97 and its 200-day simple moving average is $59.73.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same period in the previous year, the company earned $0.27 earnings per share. On average, research analysts predict that Wheaton Precious Metals will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were paid a $0.155 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 1.01%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

Analyst Ratings Changes

WPM has been the subject of several analyst reports. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Raymond James upped their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. UBS Group assumed coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They set a “buy” rating and a $78.00 target price for the company. Finally, Scotiabank raised their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

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 2017. Wheaton Precious Metals Corp.