Wheaton Precious Metals (NYSE:WPM) Shares Gap Down - What's Next?

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $64.82, but opened at $62.50. Wheaton Precious Metals shares last traded at $61.77, with a volume of 361,104 shares trading hands.

Analysts Set New Price Targets

WPM has been the topic of a number of research analyst reports. National Bank Financial raised Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Raymond James boosted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. 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 report on Monday, August 19th. Jefferies Financial Group boosted their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, TD Securities raised their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Friday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $70.88.

Wheaton Precious Metals Stock Performance

The firm has a market capitalization of $27.53 billion, a P/E ratio of 48.37, a price-to-earnings-growth ratio of 2.37 and a beta of 0.77. The business has a fifty day moving average of $62.79 and a 200-day moving average of $58.66.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals's dividend payout ratio (DPR) is 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several institutional investors have recently bought and sold shares of WPM. Ridgewood Investments LLC acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC acquired a new stake in Wheaton Precious Metals in the second quarter worth approximately $31,000. Sunbelt Securities Inc. bought a new position in Wheaton Precious Metals during the 2nd quarter valued at $47,000. St. Johns Investment Management Company LLC acquired a new position in shares of Wheaton Precious Metals during the 3rd quarter valued at $48,000. Finally, Western Pacific Wealth Management LP raised its stake in shares of Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company's stock worth $63,000 after buying an additional 218 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 2017. Wheaton Precious Metals Corp.

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