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Can Wheaton Precious Metals Corp. (NYSE: WPM) Still Be Hot This Week?

Wheaton Precious Metals Corp. (NYSE:WPM) traded at $46.24 at last check on Tuesday, 01/24/23, made an upward move of 1.15% on its previous day’s price.

Looking at the stock we see that its previous close was $45.72 and the beta (5Y monthly) reads 0.37 with the day’s price range being $41.33 – $45.785. The company has a trailing 12-month PE ratio of 25.99. In terms of its 52-week price range, WPM has a high of $51.90 and a low of $28.62. The company’s stock has gained about 14.19% over that past 30 days.

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Wheaton Precious Metals Corp. has a market cap of $20.51 billion and is expected to release its quarterly earnings report on Mar 08, 2023 – Mar 13, 2023. With its Forward Dividend at 0.60 and a yield of 1.31%, the company’s investors could be anxious for the WPM stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.22, with the EPS growth for the year raised at $1.17 for 2022 and $1.19 for next year. These figures represent -10.70% and 1.70% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $230.9 million, with a low of $206 million and a high of $264 million. The median projection represents growth adding up to -14.10% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $1.12 billion, or -6.60% down from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the WPM stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 50% Buy.

Looking further, we note that the PEG ratio for the WPM stock currently stands at 5.20, and the most recent price level today is 8.15% off its SMA20 and 14.87% from its 50-day simple moving average. The RSI (14) is pointing at 74.94 while the volatility over the past week is 3.90% and jumps to 2.76% over the past one month. The beta value is 0.53, while the average true range (ATR) is currently pointing at 1.30.

Let’s briefly compare Wheaton Precious Metals Corp. (WPM) stock to its peers. We find that today’s price change of 1.15% and 12.06% over the past 12 months for WPM. Another of its peers Hecla Mining Company (HL) has dropped -1.73% today, and was 19.37% up over the past year, while Coeur Mining Inc. (CDE) is also down -1.71% yet, while its price remains in the red at -19.29% over the same period. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -1.43% and -1.17%, respectively, in early deals.

Coming back to Wheaton Precious Metals Corp. (NYSE:WPM), we note that the average 3-month trading volume was 2.32 million, while that of the preceding 10-day period stands at 2.13 million. Current shares outstanding are 451.76 million.

The insiders hold 0.20% of the company’s shares while institutions hold 64.10%. The data shows that short shares as of Oct 13, 2022, stood at 16.66 million at a short ratio of 5.78. This represents a 3.69% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 16.15 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 16.99% up in year-to-date price movement.

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