TD Securities upgraded shares of Wheaton Precious Metals (NYSE:WPM – Free Report) from a hold rating to a buy rating in a report issued on Monday, MarketBeat.com reports. TD Securities currently has $53.00 target price on the stock, up from their previous target price of $51.00.
A number of other equities analysts have also commented on WPM. National Bank Financial lowered shares of Wheaton Precious Metals from an outperform rating to a sector perform rating in a report on Wednesday, February 21st. BMO Capital Markets lowered their price objective on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an outperform rating for the company in a research report on Wednesday, February 21st. Scotiabank cut their target price on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a sector outperform rating on the stock in a report on Wednesday, February 28th. Jefferies Financial Group started coverage on Wheaton Precious Metals in a report on Thursday, February 29th. They set a buy rating and a $49.00 target price for the company. Finally, Raymond James reduced their price objective 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. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $60.65.
Read Our Latest Stock Report on WPM
Wheaton Precious Metals Trading Down 0.6 %
Shares of Wheaton Precious Metals stock opened at $44.17 on Monday. The company has a fifty day moving average price of $44.94 and a 200 day moving average price of $44.92. The stock has a market cap of $20.01 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 9.55 and a beta of 0.76. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $52.76.
Wheaton Precious Metals Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Wednesday, April 3rd will be issued a dividend of $0.155 per share. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Tuesday, April 2nd. Wheaton Precious Metals’s payout ratio is presently 50.42%.
Hedge Funds Weigh In On Wheaton Precious Metals
Large investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Wheaton Precious Metals in the fourth quarter valued at $387,481,000. Van ECK Associates Corp grew its holdings in shares of Wheaton Precious Metals by 9.9% in the 4th quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock worth $1,012,517,000 after acquiring an additional 1,856,031 shares during the last quarter. BlackRock Inc. raised its position in shares of Wheaton Precious Metals by 245.5% during the first quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after purchasing an additional 1,798,086 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Wheaton Precious Metals by 41.7% during the first quarter. Renaissance Technologies LLC now owns 2,787,718 shares of the company’s stock valued at $132,641,000 after purchasing an additional 821,061 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its position in shares of Wheaton Precious Metals by 426.7% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 957,339 shares of the company’s stock valued at $47,460,000 after purchasing an additional 775,588 shares during the period. Institutional investors 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.
Further Reading
Receive News & Ratings for Wheaton Precious Metals Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Wheaton Precious Metals and related companies with MarketBeat.com’s FREE daily email newsletter.