Analysts Set Wheaton Precious Metals Corp. (NYSE:WPM) PT at $86.90

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been given an average rating of “Buy” by the twelve brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $86.90.

Several equities research analysts recently commented on the stock. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research report on Wednesday, April 16th. They set an “outperform” rating and a $129.00 target price on the stock. CIBC lifted their target price on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an “outperformer” rating in a research report on Friday, May 9th. Royal Bank Of Canada lifted their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th. National Bankshares reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. Finally, UBS Group lifted their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research report on Friday, April 11th.

Wheaton Precious Metals Trading Down 1.8%

WPM opened at $88.54 on Friday. The company’s 50 day moving average is $85.59 and its 200-day moving average is $73.01. Wheaton Precious Metals has a 1-year low of $51.96 and a 1-year high of $95.23. The company has a market cap of $40.19 billion, a P/E ratio of 65.10, a PEG ratio of 2.76 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The company had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. During the same period last year, the company posted $0.36 EPS. The firm’s quarterly revenue was up 58.4% compared to the same quarter last year. On average, equities analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.75%. Wheaton Precious Metals’s dividend payout ratio is currently 48.53%.

Institutional Trading of Wheaton Precious Metals

Several hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. increased its stake in shares of Wheaton Precious Metals by 2.9% in the 1st quarter. Pacer Advisors Inc. now owns 4,144 shares of the company’s stock valued at $322,000 after acquiring an additional 117 shares in the last quarter. Asahi Life Asset Management CO. LTD. increased its stake in Wheaton Precious Metals by 2.8% during the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company’s stock valued at $393,000 after purchasing an additional 140 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Wheaton Precious Metals by 2.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company’s stock valued at $523,000 after purchasing an additional 140 shares in the last quarter. Continuum Advisory LLC increased its stake in Wheaton Precious Metals by 9.0% during the 1st quarter. Continuum Advisory LLC now owns 1,823 shares of the company’s stock valued at $142,000 after purchasing an additional 151 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Wheaton Precious Metals by 2.9% during the 1st quarter. Allworth Financial LP now owns 5,715 shares of the company’s stock valued at $470,000 after purchasing an additional 161 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.