Wheaton Precious Metals (NYSE:WPM – Free Report) had its price objective upped by Scotiabank from $59.00 to $66.50 in a research note issued to investors on Thursday morning, Marketbeat reports. The firm currently has an outperform rating on the stock.
Several other research firms have also recently weighed in on WPM. CIBC raised their price objective on shares of Wheaton Precious Metals from $70.00 to $75.00 and gave the company an outperform rating in a research report on Wednesday. TD Securities raised 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 note on Monday, March 18th. National Bank Financial lowered Wheaton Precious Metals from an outperform rating to a sector perform rating in a research report on Wednesday, February 21st. Raymond James dropped their target price on Wheaton Precious Metals from $60.00 to $58.00 and set a market perform rating for the company in a research report on Thursday, February 22nd. Finally, Berenberg Bank increased their price target on shares of Wheaton Precious Metals from $54.00 to $64.00 and gave the company a buy rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $61.33.
Read Our Latest Stock Report on WPM
Wheaton Precious Metals Stock Performance
Shares of WPM stock opened at $55.69 on Thursday. The company has a market capitalization of $25.25 billion, a PE ratio of 42.84, a price-to-earnings-growth ratio of 2.05 and a beta of 0.75. Wheaton Precious Metals has a 52-week low of $38.37 and a 52-week high of $57.87. The business’s fifty day moving average is $51.43 and its 200 day moving average is $48.02.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $296.80 million during the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The company’s revenue for the quarter was up 38.7% on a year-over-year basis. During the same quarter last year, the company posted $0.23 EPS. On average, sell-side analysts forecast that Wheaton Precious Metals will post 1.28 EPS for the current fiscal year.
Wheaton Precious Metals Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Wednesday, May 29th. Wheaton Precious Metals’s payout ratio is 47.69%.
Institutional Investors Weigh In On Wheaton Precious Metals
Several institutional investors have recently added to or reduced their stakes in WPM. Fielder Capital Group LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $1,046,000. Sprott Inc. raised its position in Wheaton Precious Metals by 4.8% during the 3rd quarter. Sprott Inc. now owns 799,533 shares of the company’s stock valued at $32,421,000 after purchasing an additional 36,654 shares during the last quarter. Douglas Lane & Associates LLC lifted its holdings in Wheaton Precious Metals by 31.4% in the 4th quarter. Douglas Lane & Associates LLC now owns 408,449 shares of the company’s stock worth $20,153,000 after buying an additional 97,535 shares during the period. Deutsche Bank AG grew its position in shares of Wheaton Precious Metals by 4.4% in the 3rd quarter. Deutsche Bank AG now owns 3,623,133 shares of the company’s stock worth $146,918,000 after buying an additional 152,826 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $1,509,000. Hedge funds and other institutional investors own 70.34% 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 2017. Wheaton Precious Metals Corp.
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