Wheaton Precious Metals (NYSE:WPM – Get Free Report) had its price objective cut by analysts at TD Securities from $71.00 to $70.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 18.52% from the company’s previous close.
Several other equities analysts have also recently weighed in on WPM. Jefferies Financial Group raised their target price on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 12th. BMO Capital Markets increased their price objective on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. CIBC increased their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Berenberg Bank increased their price objective on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Bank of America increased their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average price target of $66.89.
View Our Latest Stock Report on WPM
Wheaton Precious Metals Stock Performance
WPM opened at $59.06 on Thursday. The stock has a market capitalization of $26.79 billion, a price-to-earnings ratio of 45.43, a PEG ratio of 2.08 and a beta of 0.76. The company has a fifty day moving average of $56.16 and a 200 day moving average of $51.61. Wheaton Precious Metals has a fifty-two week low of $38.37 and a fifty-two week high of $63.06.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $299.06 million during the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. Wheaton Precious Metals’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company posted $0.31 earnings per share. On average, equities research analysts forecast that Wheaton Precious Metals will post 1.38 earnings per share for the current year.
Institutional Investors Weigh In On Wheaton Precious Metals
Institutional investors have recently made changes to their positions in the company. AdvisorNet Financial Inc lifted its holdings in Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after buying an additional 190 shares in the last quarter. Capital International Inc. CA lifted its holdings in Wheaton Precious Metals by 2.5% during the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after buying an additional 204 shares in the last quarter. Western Pacific Wealth Management LP lifted its holdings in Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after buying an additional 218 shares in the last quarter. Brookstone Capital Management lifted its holdings in 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 buying an additional 240 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Wheaton Precious Metals by 25.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after buying an additional 253 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.
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.
Further Reading
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