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London
May 27, 2024
PI Global Investments
Precious Metals

Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $60.00


Wheaton Precious Metals logo with Basic Materials background

Wheaton Precious Metals (NYSE:WPMGet Free Report) had its price objective increased by equities researchers at Raymond James from $57.00 to $60.00 in a research note issued on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 24.04% from the company’s current price.

Several other equities research analysts have also recently weighed in on WPM. TheStreet cut shares of Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research report on Friday, November 10th. BMO Capital Markets dropped their price target on shares of Wheaton Precious Metals from $58.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, November 10th. National Bank Financial dropped their target price on shares of Wheaton Precious Metals from C$75.00 to C$72.50 in a research report on Monday, September 25th. StockNews.com began coverage on shares of Wheaton Precious Metals in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Berenberg Bank dropped their target price on shares of Wheaton Precious Metals from $61.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, October 11th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average price target of $62.13.

View Our Latest Research Report on WPM

Wheaton Precious Metals Trading Up 1.3 %

Shares of NYSE:WPM traded up $0.62 during trading on Friday, reaching $48.37. The company had a trading volume of 1,112,910 shares, compared to its average volume of 1,554,404. The company has a fifty day moving average of $47.48 and a two-hundred day moving average of $44.43. The stock has a market capitalization of $21.91 billion, a P/E ratio of 40.61, a price-to-earnings-growth ratio of 9.74 and a beta of 0.81. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $52.76.

Wheaton Precious Metals (NYSE:WPMGet Free Report) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $223.14 million for the quarter, compared to analyst estimates of $241.33 million. Wheaton Precious Metals had a net margin of 57.03% and a return on equity of 6.94%. As a group, equities research analysts predict that Wheaton Precious Metals will post 1.1 earnings per share for the current year.

Institutional Investors Weigh In On Wheaton Precious Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC bought a new position in Wheaton Precious Metals in the 4th quarter worth approximately $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of Wheaton Precious Metals by 54.7% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock valued at $31,000 after acquiring an additional 280 shares during the last quarter. Glass Jacobson Investment Advisors llc bought a new position in shares of Wheaton Precious Metals during the 2nd quarter valued at approximately $33,000. Mechanics Financial Corp boosted its position in shares of Wheaton Precious Metals by 200.0% during the 3rd quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock valued at $36,000 after acquiring an additional 600 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its position in shares of Wheaton Precious Metals by 38.6% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,178 shares of the company’s stock valued at $48,000 after acquiring an additional 328 shares during the last quarter. 58.51% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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