Wheaton Precious Metals Corp. (NYSE:WPM) price on Friday, March 17, rose 4.43% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $45.30.
A look at the stock’s price movement, the close in the last trading session was $43.38, moving within a range at $43.63 and $45.73. The beta value (5-Year monthly) was 0.45 while the PE ratio in trailing twelve months stood at 30.63. Turning to its 52-week performance, $51.90 and $28.62 were the 52-week high and 52-week low respectively. Overall, WPM moved 6.81% over the past month.
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Wheaton Precious Metals Corp.’s market cap currently stands at around $19.77 billion, with investors looking forward to this quarter’s earnings report slated for May 03, 2023 – May 08, 2023. The company has a Forward Dividend ratio of 0.60, with its dividend yield at 1.32%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.29, which has seen fiscal year 2023 EPS growth forecast to increase to $1.15 and about $1.35 for fiscal year 2024. Per the data, EPS growth is expected to be 2.70% for 2023 and 17.40% for the next financial year.
Analysts have a consensus estimate of $227.34 million for the company’s revenue for the quarter, with a low and high estimate of $226.67 million and $228 million respectively. The average forecast suggests down to a -26.00% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2023 to grow to $1.09 billion, representing a 2.50% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 2 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that WPM is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
WPM’s current price about 9.20% and 5.14% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 65.27, while 7-day volatility ratio is 3.97% and 3.01% in the 30-day chart. Further, Wheaton Precious Metals Corp. (WPM) has a beta value of 0.57, and an average true range (ATR) of 1.46. Analysts have given the company’s stock an average 52-week price target of $49.40, forecast between a low of $42.00 and high of $60.00. Looking at the price targets, the low is 7.28% off current price level while to achieve the yearly target high, price needs to move -32.45%. Nonetheless, investors will most likely welcome a -8.17% jump to $49.00 which is the analysts’ median price.
In the market, a comparison of Wheaton Precious Metals Corp. (WPM) and its peers suggest the former has performed considerably stronger. Data shows WPM’s intraday price has changed 4.43% in last session and -3.98% over the past year. Looking at another peer, we see that Hecla Mining Company (HL) price has gained 3.71% on the day. However, the stock is -15.39% off its price a year ago. Moreover, Coeur Mining Inc. (CDE) is also up 5.48% in trading on the day while keeping a a downtrend of -31.56% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.
If we refocus on Wheaton Precious Metals Corp. (NYSE:WPM), historical trading data shows that trading volumes averaged 3.01 million over the past 10 days and 2.34 million over the past 3 months. The company’s latest data on shares outstanding shows there are 452.07 million shares.
The 0.20% of Wheaton Precious Metals Corp.’s shares are in the hands of company insiders while institutional holders own 64.10% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 13.35 million on Feb 27, 2023, giving us a short ratio of 6.12. The data shows that as of Feb 27, 2023 short interest in Wheaton Precious Metals Corp. (WPM) stood at 2.95% of shares outstanding, with shares short rising to 12.68 million registered in Jan 30, 2023. Current price change has pushed the stock 15.92% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the WPM stock continues to rise going into the next quarter.
