Shares of Wheaton Precious Metals Corp. (NYSE:WPM – Get Free Report) have received an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $54.30.
Several research firms have recently issued reports on WPM. CIBC increased their price objective on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. National Bank Financial cut Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Scotiabank dropped their price target on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 28th. BMO Capital Markets cut their target price on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Finally, TD Securities upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price target for the stock from $51.00 to $53.00 in a research report on Monday, March 18th.
Get Our Latest Analysis on Wheaton Precious Metals
Institutional Investors Weigh In On Wheaton Precious Metals
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Inc. CA boosted its holdings in Wheaton Precious Metals by 2.5% in the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock worth $392,000 after purchasing an additional 204 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Wheaton Precious Metals by 5.3% during the 1st quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock valued at $225,000 after acquiring an additional 240 shares during the last quarter. Parsons Capital Management Inc. RI raised its stake in shares of Wheaton Precious Metals by 0.4% in the 3rd quarter. Parsons Capital Management Inc. RI now owns 57,361 shares of the company’s stock valued at $2,326,000 after acquiring an additional 250 shares in the last quarter. Transatlantique Private Wealth LLC boosted its position in Wheaton Precious Metals by 3.6% during the third quarter. Transatlantique Private Wealth LLC now owns 7,808 shares of the company’s stock worth $317,000 after purchasing an additional 270 shares during the period. Finally, Hexagon Capital Partners LLC grew its holdings in Wheaton Precious Metals by 30.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock valued at $57,000 after purchasing an additional 273 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.
Wheaton Precious Metals Stock Up 1.0 %
Shares of NYSE:WPM opened at $55.93 on Thursday. Wheaton Precious Metals has a fifty-two week low of $38.37 and a fifty-two week high of $57.33. The company has a market cap of $25.35 billion, a PE ratio of 43.02, a P/E/G ratio of 7.37 and a beta of 0.75. The company’s 50-day moving average price is $49.99 and its 200 day moving average price is $47.49.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The firm had revenue of $296.80 million for the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a return on equity of 8.59% and a net margin of 53.74%. The firm’s revenue for the quarter was up 38.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. As a group, equities analysts anticipate that Wheaton Precious Metals will post 1.26 EPS for the current year.
Wheaton Precious Metals Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.
About Wheaton Precious Metals
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 2017. Wheaton Precious Metals Corp.
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