Jefferies Financial Group initiated coverage on shares of Wheaton Precious Metals (NYSE:WPM – Get Free Report) in a research report issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $49.00 price target on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 23.22% from the company’s current price.
Several other research firms have also commented on WPM. TD Securities lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating and reduced their price target for the company from $58.00 to $51.00 in a research report on Wednesday, February 21st. CIBC boosted their target price on Wheaton Precious Metals from $66.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. BMO Capital Markets cut their target price on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Scotiabank cut their target price on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research report on Wednesday. Finally, National Bank Financial lowered Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Wheaton Precious Metals has an average rating of “Hold” and a consensus price target of $60.46.
Check Out Our Latest Report on WPM
Wheaton Precious Metals Price Performance
Shares of Wheaton Precious Metals stock opened at $39.77 on Thursday. The stock has a market cap of $18.02 billion, a P/E ratio of 33.42, a P/E/G ratio of 8.06 and a beta of 0.80. The stock’s 50 day simple moving average is $46.47 and its 200-day simple moving average is $44.81. Wheaton Precious Metals has a 1-year low of $38.37 and a 1-year high of $52.76.
Hedge Funds Weigh In On Wheaton Precious Metals
Institutional investors and hedge funds have recently modified their holdings of the company. Douglas Lane & Associates LLC grew its stake in shares of Wheaton Precious Metals by 186.9% during the third quarter. Douglas Lane & Associates LLC now owns 310,914 shares of the company’s stock worth $12,608,000 after purchasing an additional 202,539 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Wheaton Precious Metals by 18.3% in the third quarter. Mackenzie Financial Corp now owns 3,411,151 shares of the company’s stock valued at $133,849,000 after acquiring an additional 527,358 shares in the last quarter. Gabelli Funds LLC boosted its stake in Wheaton Precious Metals by 1.6% in the third quarter. Gabelli Funds LLC now owns 1,171,495 shares of the company’s stock valued at $47,504,000 after acquiring an additional 18,100 shares in the last quarter. Invesco Ltd. boosted its stake in Wheaton Precious Metals by 0.4% in the third quarter. Invesco Ltd. now owns 1,745,268 shares of the company’s stock valued at $70,771,000 after acquiring an additional 7,575 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Wheaton Precious Metals by 4.4% in the third quarter. Deutsche Bank AG now owns 3,623,133 shares of the company’s stock valued at $146,918,000 after acquiring an additional 152,826 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.
Wheaton Precious Metals Company Profile
Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 10, 2017. Wheaton Precious Metals Corp.
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