Wheaton Precious Metals Sees Unusually Large Options Volume (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) was the recipient of some unusual options trading activity on Tuesday. Traders bought 6,649 call options on the stock. This represents an increase of approximately 100% compared to the average daily volume of 3,320 call options.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $64.02 on Wednesday. The stock has a 50 day moving average price of $59.39 and a 200-day moving average price of $60.67. The firm has a market capitalization of $29.04 billion, a P/E ratio of 47.77, a P/E/G ratio of 1.61 and a beta of 0.77. Wheaton Precious Metals has a 52-week low of $38.57 and a 52-week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, equities analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Thursday, November 21st. Wheaton Precious Metals’s payout ratio is presently 46.27%.

Hedge Funds Weigh In On Wheaton Precious Metals

Several hedge funds and other institutional investors have recently modified their holdings of WPM. Versant Capital Management Inc purchased a new position in Wheaton Precious Metals during the fourth quarter valued at $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter valued at $39,000. GAMMA Investing LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $41,000. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at approximately $48,000. Finally, Kestra Investment Management LLC bought a new position in Wheaton Precious Metals during the fourth quarter valued at $53,000. 70.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WPM. Raymond James raised their target price 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. TD Securities raised their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. UBS Group assumed coverage on Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. Finally, Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus 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.