Short Interest in Silver Wheaton Corp (WPM) Expands By 42.1%
Silver Wheaton Corp (NYSE:WPM) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 6,202,487 shares, a growth of 42.1% from the August 15th total of 4,366,075 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily volume of 2,647,594 shares, the days-to-cover ratio is currently 2.3 days.
Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Silver Wheaton Corp in the second quarter valued at $146,000. Integrated Investment Consultants LLC acquired a new stake in shares of Silver Wheaton Corp in the second quarter valued at $159,000. First Manhattan Co. acquired a new stake in shares of Silver Wheaton Corp in the second quarter valued at $236,000. Atlantic Trust Group LLC acquired a new stake in shares of Silver Wheaton Corp in the second quarter valued at $238,000. Finally, IFP Advisors Inc acquired a new stake in shares of Silver Wheaton Corp in the second quarter valued at $393,000. Institutional investors and hedge funds own 48.09% of the company’s stock.
Silver Wheaton Corp (WPM) opened at 19.23 on Monday. The stock has a 50 day moving average price of $19.84 and a 200-day moving average price of $20.10. The stock has a market capitalization of $8.50 billion, a P/E ratio of 38.38 and a beta of 0.33. Silver Wheaton Corp has a one year low of $16.94 and a one year high of $28.68.
Silver Wheaton Corp (NYSE:WPM) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $200.00 million for the quarter, compared to analysts’ expectations of $217.81 million. Silver Wheaton Corp had a return on equity of 5.90% and a net margin of 25.05%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $0.14 earnings per share. Analysts anticipate that Silver Wheaton Corp will post $0.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were paid a $0.10 dividend. This is a boost from Silver Wheaton Corp’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Wednesday, August 23rd. Silver Wheaton Corp’s dividend payout ratio (DPR) is presently 80.00%.
A number of brokerages have recently issued reports on WPM. 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. BMO Capital Markets reiterated a “buy” rating and issued a $28.00 price target on shares of Silver Wheaton Corp in a report on Wednesday, September 6th. Zacks Investment Research upgraded Silver Wheaton Corp from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Deutsche Bank AG reiterated a “hold” rating and issued a $29.00 price target (down from $31.00) on shares of Silver Wheaton Corp in a report on Sunday, June 25th. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $27.00 price target on shares of Silver Wheaton Corp in a report on Sunday, June 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.25.
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Silver Wheaton Corp Company Profile
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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