Wheaton Precious Metals’ (WPM) Buy (B-) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their buy (b-) rating on shares of Wheaton Precious Metals (NYSE:WPM) in a research report sent to investors on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. National Bankshares reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Berenberg Bank raised their price target on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, UBS Group raised their price objective on Wheaton Precious Metals from $106.00 to $118.00 and gave the company a “neutral” rating in a report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.50.

Wheaton Precious Metals Stock Up 2.0%

NYSE:WPM opened at $105.44 on Wednesday. The business’s 50-day moving average price is $102.44 and its two-hundred day moving average price is $91.34. Wheaton Precious Metals has a twelve month low of $55.47 and a twelve month high of $114.00. The stock has a market cap of $47.87 billion, a P/E ratio of 60.95, a PEG ratio of 2.76 and a beta of 0.41.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results 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. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm had revenue of $503.22 million for the quarter, compared to analysts’ expectations of $424.23 million. During the same quarter last year, the firm posted $0.33 EPS. The company’s revenue was up 68.2% compared to the same quarter last year. On average, equities research analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

Hedge Funds Weigh In On Wheaton Precious Metals

A number of large investors have recently bought and sold shares of WPM. Bulwark Capital Corp purchased a new position in Wheaton Precious Metals in the 2nd quarter worth approximately $27,000. Delta Asset Management LLC TN purchased a new position in Wheaton Precious Metals in the 2nd quarter worth approximately $27,000. NBT Bank N A NY increased its stake in 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 purchasing an additional 234 shares during the period. Wealth Preservation Advisors LLC purchased a new position in Wheaton Precious Metals in the 1st quarter worth approximately $38,000. Finally, Banque Cantonale Vaudoise purchased a new position in Wheaton Precious Metals in the 1st quarter worth approximately $49,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

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.