Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $135.00

Wheaton Precious Metals (NYSE:WPM) had its price target lifted by CIBC from $130.00 to $135.00 in a research note published on Thursday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on WPM. BMO Capital Markets reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Scotiabank upped their target price on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 12th. National Bankshares reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Raymond James Financial upped their price objective on shares of Wheaton Precious Metals from $112.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average price target of $106.11.

Wheaton Precious Metals Stock Up 1.5%

Shares of NYSE WPM opened at $109.01 on Thursday. The stock’s 50-day simple moving average is $99.28 and its two-hundred day simple moving average is $89.11. Wheaton Precious Metals has a twelve month low of $55.47 and a twelve month high of $109.67. The firm has a market capitalization of $49.49 billion, a P/E ratio of 63.01, a P/E/G ratio of 2.94 and a beta of 0.42.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The business had revenue of $503.22 million during the quarter, compared to analyst estimates of $424.23 million. During the same period in the previous year, the business posted $0.33 earnings per share. Wheaton Precious Metals’s revenue for the quarter was up 68.2% on a year-over-year basis. As a group, research analysts anticipate that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, August 21st. Wheaton Precious Metals’s dividend payout ratio is currently 38.15%.

Hedge Funds Weigh In On Wheaton Precious Metals

Hedge funds have recently modified their holdings of the company. Cerity Partners LLC boosted its holdings in shares of Wheaton Precious Metals by 5.5% during the first quarter. Cerity Partners LLC now owns 20,271 shares of the company’s stock worth $1,574,000 after purchasing an additional 1,058 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Wheaton Precious Metals by 37.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company’s stock worth $630,000 after buying an additional 2,208 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Wheaton Precious Metals by 5.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company’s stock worth $419,000 after buying an additional 297 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Wheaton Precious Metals by 18.0% during the first quarter. Voya Investment Management LLC now owns 747,477 shares of the company’s stock valued at $58,026,000 after buying an additional 113,835 shares during the period. Finally, Guardian Partners Inc. purchased a new position in shares of Wheaton Precious Metals during the first quarter valued at approximately $538,000. 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.