Silver Wheaton Corp (WPM) Releases Quarterly Earnings Results, Meets Expectations
Silver Wheaton Corp (NYSE:WPM) released its quarterly earnings results on Thursday. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15, Briefing.com reports. Silver Wheaton Corp had a return on equity of 5.81% and a net margin of 23.89%. The business had revenue of $200 million during the quarter, compared to analyst estimates of $217.81 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. Silver Wheaton Corp’s revenue for the quarter was down 5.7% on a year-over-year basis.
Silver Wheaton Corp (NYSE:WPM) traded down 4.51% during mid-day trading on Friday, reaching $19.04. The company’s stock had a trading volume of 7,743,137 shares. Silver Wheaton Corp has a one year low of $16.94 and a one year high of $31.13. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 38.94 and a beta of 0.40. The stock has a 50-day moving average price of $19.78 and a 200-day moving average price of $20.45.
Several analysts have issued reports on the company. Zacks Investment Research raised Silver Wheaton Corp from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Deutsche Bank AG reissued a “hold” rating and set a $29.00 price target (down previously from $31.00) on shares of Silver Wheaton Corp in a report on Sunday, June 25th. Royal Bank Of Canada set a $27.00 price target on Silver Wheaton Corp and gave the company a “buy” rating in a report on Monday, June 19th. Finally, Raymond James Financial, Inc. reissued an “outperform” rating and set a $27.00 price target on shares of Silver Wheaton Corp in a report on Sunday, June 18th.
A number of large investors have recently made changes to their positions in WPM. SG Americas Securities LLC acquired a new stake in Silver Wheaton Corp during the second quarter worth approximately $146,000. Integrated Investment Consultants LLC acquired a new stake in Silver Wheaton Corp during the second quarter worth approximately $159,000. First Manhattan Co. acquired a new stake in Silver Wheaton Corp during the second quarter worth approximately $236,000. Atlantic Trust Group LLC acquired a new stake in Silver Wheaton Corp during the second quarter worth approximately $238,000. Finally, IFP Advisors Inc acquired a new stake in Silver Wheaton Corp during the second quarter worth approximately $393,000. 50.38% of the stock is currently owned by institutional investors.
About Silver Wheaton Corp
Wheaton Precious Metals Corp, formerly Silver Wheaton Corp, is a Canada-based pure precious metals streaming company engaged in the sale of silver and gold. The Company operates through eight segments: the silver produced by the San Dimas, Penasquito and Antamina mines, the gold produced by the Sudbury and Salobo mines, the silver and gold produced by the Constancia mine and the Other mines, and corporate operations.
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