Wheaton Precious Metals (NYSE:WPM) Raised to Strong-Buy at BMO Capital Markets

Wheaton Precious Metals (NYSE:WPM) was upgraded by research analysts at BMO Capital Markets to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on WPM. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. UBS Group upped their target price on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Royal Bank of Canada lifted their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, April 4th. Scotiabank upped their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research note on Monday. Finally, Raymond James lifted their target price on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Buy” and a consensus target price of $83.40.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $84.85 on Tuesday. Wheaton Precious Metals has a 1 year low of $50.91 and a 1 year high of $86.20. The firm has a market cap of $38.49 billion, a PE ratio of 63.32, a PEG ratio of 1.91 and a beta of 0.74. The company has a 50 day simple moving average of $72.95 and a two-hundred day simple moving average of $65.27.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company had revenue of $380.52 million for the quarter, compared to analysts’ expectations of $395.74 million. During the same quarter last year, the business posted $0.36 EPS. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, research analysts anticipate that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in shares of Wheaton Precious Metals by 6.4% during the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock valued at $1,154,843,000 after acquiring an additional 1,231,999 shares in the last quarter. Vanguard Group Inc. raised its holdings in Wheaton Precious Metals by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company’s stock worth $994,733,000 after purchasing an additional 281,123 shares in the last quarter. FMR LLC raised its holdings in Wheaton Precious Metals by 5.9% in the 4th quarter. FMR LLC now owns 15,529,219 shares of the company’s stock worth $873,995,000 after purchasing an additional 863,306 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Wheaton Precious Metals by 5.0% in the 4th quarter. Royal Bank of Canada now owns 9,424,930 shares of the company’s stock worth $530,057,000 after purchasing an additional 447,702 shares during the period. Finally, Norges Bank bought a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $472,648,000. 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.