Wheaton Precious Metals (WPM) Sets New 1-Year Low Following Weak Earnings
Wheaton Precious Metals Corp (NYSE:WPM) shares reached a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $15.16 and last traded at $15.19, with a volume of 239310 shares traded. The stock had previously closed at $15.99.
The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). Wheaton Precious Metals had a return on equity of 5.80% and a net margin of 36.76%. The business had revenue of $185.77 million during the quarter, compared to the consensus estimate of $191.11 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. Wheaton Precious Metals’s quarterly revenue was down 8.5% compared to the same quarter last year.
Several research firms recently commented on WPM. TD Securities reduced their price objective on Wheaton Precious Metals from $27.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. ValuEngine downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Zacks Investment Research upgraded Wheaton Precious Metals from a “sell” rating to a “hold” rating in a report on Friday, July 27th. Royal Bank of Canada set a $26.00 price objective on Wheaton Precious Metals and gave the stock a “buy” rating in a report on Monday, July 23rd. Finally, Deutsche Bank set a $25.00 price objective on Wheaton Precious Metals and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Wheaton Precious Metals presently has a consensus rating of “Buy” and a consensus price target of $25.60.
The company has a market cap of $7.02 billion, a PE ratio of 24.46, a PEG ratio of 6.11 and a beta of 0.38. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.76 and a quick ratio of 4.76.
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About Wheaton Precious Metals (NYSE:WPM)
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.
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