Wheaton Precious Metals (NYSE:WPM) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Wheaton Precious Metals (NYSE:WPM) from a hold rating to a buy rating in a research report sent to investors on Sunday.

Other equities analysts also recently issued reports about the stock. Bank of America upped their price objective on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Raymond James Financial upped their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.78.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $135.46 on Friday. Wheaton Precious Metals has a one year low of $56.70 and a one year high of $135.72. The business’s 50 day simple moving average is $114.55 and its two-hundred day simple moving average is $104.67. The stock has a market capitalization of $61.50 billion, a P/E ratio of 61.57, a price-to-earnings-growth ratio of 1.31 and a beta of 0.52.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The firm had revenue of $476.26 million for the quarter, compared to analysts’ expectations of $495.53 million. During the same quarter last year, the business earned $0.34 earnings per share. The business’s revenue was up 54.5% on a year-over-year basis. Sell-side analysts expect that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio is 30.00%.

Institutional Trading of Wheaton Precious Metals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC bought a new position in shares of Wheaton Precious Metals during the third quarter valued at $26,000. Delta Asset Management LLC TN bought a new stake in Wheaton Precious Metals during the 2nd quarter valued at about $27,000. Root Financial Partners LLC bought a new position in shares of Wheaton Precious Metals in the third quarter worth approximately $29,000. Triumph Capital Management purchased a new stake in shares of Wheaton Precious Metals during the third quarter valued at approximately $33,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.