Stock Traders Buy High Volume of Wheaton Precious Metals Put Options (NYSE:WPM)

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Wheaton Precious Metals Corp (NYSE:WPM) was the target of some unusual options trading activity on Monday. Stock traders acquired 16,035 put options on the company. This represents an increase of 1,259% compared to the average volume of 1,180 put options.

Several brokerages recently commented on WPM. ValuEngine lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays lowered shares of Wheaton Precious Metals from an “overweight” rating to an “equal weight” rating and set a $28.00 price objective for the company. in a research report on Tuesday, October 15th. Raymond James reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Wheaton Precious Metals in a research report on Monday, August 12th. Bank of America increased their price objective on shares of Wheaton Precious Metals from $33.50 to $35.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Zacks Investment Research lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a research report on Saturday. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.82.

Large investors have recently bought and sold shares of the company. Invesco Ltd. grew its stake in Wheaton Precious Metals by 123.9% in the 2nd quarter. Invesco Ltd. now owns 5,137,109 shares of the company’s stock valued at $124,216,000 after acquiring an additional 2,842,321 shares during the period. Dudley & Shanley Inc. acquired a new stake in Wheaton Precious Metals in the 3rd quarter valued at $41,206,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Wheaton Precious Metals by 50.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,211,766 shares of the company’s stock valued at $53,604,000 after acquiring an additional 737,925 shares during the period. MUFG Securities EMEA plc acquired a new stake in Wheaton Precious Metals in the 2nd quarter valued at $12,090,000. Finally, Vanguard Group Inc. grew its stake in Wheaton Precious Metals by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 13,210,823 shares of the company’s stock valued at $319,438,000 after acquiring an additional 359,679 shares during the period. 53.83% of the stock is owned by hedge funds and other institutional investors.

NYSE:WPM opened at $26.15 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65. The firm has a market cap of $11.79 billion, a price-to-earnings ratio of 54.48, a price-to-earnings-growth ratio of 9.50 and a beta of -0.12. The company has a 50 day moving average price of $27.29 and a 200-day moving average price of $24.78. Wheaton Precious Metals has a 1-year low of $15.08 and a 1-year high of $30.90.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $189.47 million during the quarter, compared to analyst estimates of $194.90 million. Wheaton Precious Metals had a negative net margin of 3.33% and a positive return on equity of 3.35%. The business’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. On average, sell-side analysts anticipate that Wheaton Precious Metals will post 0.56 earnings per share for the current fiscal year.

Wheaton Precious Metals Company Profile

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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