Wheaton Precious Metals Corp. (NYSE:WPM) Given Average Rating of “Moderate Buy” by Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has been given an average rating of “Moderate Buy” by the twelve analysts that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $109.75.

A number of research firms have weighed in on WPM. CIBC boosted their target price on shares of Wheaton Precious Metals from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, September 25th. National Bankshares reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. BMO Capital Markets reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. UBS Group upped their target price on Wheaton Precious Metals from $106.00 to $118.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Finally, Berenberg Bank lifted their target price on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, September 12th.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $109.73 on Friday. The business’s fifty day moving average is $100.95 and its 200-day moving average is $90.36. The firm has a market cap of $49.81 billion, a price-to-earnings ratio of 63.43, a PEG ratio of 2.94 and a beta of 0.41. Wheaton Precious Metals has a 52-week low of $55.47 and a 52-week high of $114.00.

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

Wheaton Precious Metals Dividend Announcement

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

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bulwark Capital Corp acquired a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $27,000. Delta Asset Management LLC TN acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth about $27,000. NBT Bank N A NY raised its holdings in shares of Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after acquiring an additional 234 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new stake in shares of Wheaton Precious Metals in the 1st quarter worth about $38,000. Finally, City State Bank increased its holdings in Wheaton Precious Metals by 40.0% during the 2nd quarter. City State Bank now owns 560 shares of the company’s stock worth $50,000 after purchasing an additional 160 shares in the last quarter. 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.