Wheaton Precious Metals Corp (NYSE:WPM) Short Interest Up 42.5% in February

Wheaton Precious Metals Corp (NYSE:WPM) was the target of a large growth in short interest in February. As of February 14th, there was short interest totalling 9,720,000 shares, a growth of 42.5% from the January 30th total of 6,820,000 shares. Based on an average trading volume of 1,860,000 shares, the days-to-cover ratio is currently 5.2 days. Currently, 2.2% of the shares of the stock are short sold.

Shares of Wheaton Precious Metals stock traded down $0.58 during trading on Wednesday, hitting $32.57. 3,843,600 shares of the company were exchanged, compared to its average volume of 2,319,674. The company has a quick ratio of 4.67, a current ratio of 4.67 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals has a fifty-two week low of $19.73 and a fifty-two week high of $34.00. The stock has a market capitalization of $14.79 billion, a price-to-earnings ratio of 814.45, a P/E/G ratio of 7.21 and a beta of -0.03. The firm has a 50 day moving average price of $29.51 and a 200 day moving average price of $28.12.

Several brokerages have recently commented on WPM. Royal Bank of Canada reissued a “buy” rating and set a $33.00 price target on shares of Wheaton Precious Metals in a research note on Sunday, February 9th. Raymond James boosted their price target on Wheaton Precious Metals from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday. TheStreet raised Wheaton Precious Metals from a “c+” rating to a “b-” rating in a research note on Friday, November 15th. BMO Capital Markets began coverage on Wheaton Precious Metals in a research note on Tuesday, November 26th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Zacks Investment Research lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Wheaton Precious Metals currently has an average rating of “Buy” and a consensus target price of $32.10.

Several institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $6,633,000. National Pension Service acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $31,093,000. Geode Capital Management LLC raised its position in shares of Wheaton Precious Metals by 15.2% during the 4th quarter. Geode Capital Management LLC now owns 653,443 shares of the company’s stock worth $19,588,000 after purchasing an additional 86,271 shares during the last quarter. Profund Advisors LLC raised its position in shares of Wheaton Precious Metals by 19.4% during the 4th quarter. Profund Advisors LLC now owns 78,362 shares of the company’s stock worth $2,331,000 after purchasing an additional 12,723 shares during the last quarter. Finally, Intact Investment Management Inc. raised its position in shares of Wheaton Precious Metals by 19.4% during the 4th quarter. Intact Investment Management Inc. now owns 1,013,900 shares of the company’s stock worth $39,137,000 after purchasing an additional 164,600 shares during the last quarter. Hedge funds and other institutional investors own 55.12% of the company’s stock.

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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