Wheaton Precious Metals Target of Unusually High Options Trading (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) was the target of some unusual options trading activity on Tuesday. Stock traders bought 6,649 call options on the stock. This represents an increase of 100% compared to the average volume of 3,320 call options.

Wheaton Precious Metals Stock Performance

NYSE WPM traded up $1.90 during trading on Wednesday, reaching $65.92. 2,211,303 shares of the company traded hands, compared to its average volume of 1,438,526. Wheaton Precious Metals has a 1-year low of $38.57 and a 1-year high of $68.64. The company has a market cap of $29.91 billion, a price-to-earnings ratio of 49.19, a P/E/G ratio of 1.61 and a beta of 0.77. The stock's 50 day moving average price is $59.39 and its two-hundred day moving average price is $60.67.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm had revenue of $308.25 million during the quarter, compared to analysts' expectations of $324.57 million. During the same quarter in the prior year, the company earned $0.27 EPS. Equities research analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were issued a $0.155 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.94%. Wheaton Precious Metals's payout ratio is presently 46.27%.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPM. Versant Capital Management Inc bought a new stake in Wheaton Precious Metals in the 4th quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new position in shares of Wheaton Precious Metals during the 4th quarter valued at approximately $39,000. GAMMA Investing LLC purchased a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $41,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the third quarter valued at about $48,000. Finally, Kestra Investment Management LLC bought a new position in shares of Wheaton Precious Metals in the fourth quarter worth $53,000. Institutional investors and hedge funds own 70.34% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on WPM. Raymond James lifted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Stifel Canada cut Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. TD Securities raised their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, November 8th. National Bank Financial upgraded Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Finally, UBS Group started coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They set a "buy" rating and a $78.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average 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.