Stock Traders Purchase Large Volume of Wheaton Precious Metals Put Options (WPM)

Wheaton Precious Metals Corp (NYSE:WPM) saw unusually large options trading on Wednesday. Investors purchased 11,323 put options on the company. This represents an increase of approximately 818% compared to the average daily volume of 1,234 put options.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Greenleaf Trust acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth $210,000. Marietta Investment Partners LLC acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth $210,000. MAI Capital Management acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth $214,000. Edgestream Partners L.P. acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth $228,000. Finally, Trust Co acquired a new stake in shares of Wheaton Precious Metals during the first quarter worth $254,000. 52.27% of the stock is currently owned by institutional investors.

WPM opened at $16.38 on Friday. Wheaton Precious Metals has a one year low of $15.18 and a one year high of $22.86. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.76 and a current ratio of 4.76. The firm has a market capitalization of $7.37 billion, a PE ratio of 26.00, a PEG ratio of 6.42 and a beta of 0.38.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Tuesday, August 14th. The company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. Wheaton Precious Metals had a return on equity of 5.80% and a net margin of 36.76%. The company had revenue of $212.40 million for the quarter, compared to the consensus estimate of $203.92 million. During the same quarter in the previous year, the business earned $0.15 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, research analysts forecast that Wheaton Precious Metals will post 0.52 EPS for the current year.

A number of brokerages have issued reports on WPM. Zacks Investment Research upgraded Wheaton Precious Metals from a “sell” rating to a “hold” rating in a research report on Friday, July 27th. ValuEngine raised Wheaton Precious Metals from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. Royal Bank of Canada set a $26.00 price objective on Wheaton Precious Metals and gave the stock a “buy” rating in a research note on Monday, July 23rd. Deutsche Bank set a $25.00 price objective on Wheaton Precious Metals and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Finally, Raymond James boosted their price objective on Wheaton Precious Metals from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Wheaton Precious Metals currently has a consensus rating of “Buy” and a consensus target price of $26.60.

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Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. operates as a silver and gold streaming company in Canada and internationally. It has streaming agreements for 20 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.

Further Reading: Asset Allocation, Balancing Your Investments

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