Wheaton Precious Metals (NYSE:WPM) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Wheaton Precious Metals (NYSE:WPM) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other research analysts have also weighed in on WPM. Zacks Research lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. TD Cowen raised their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective for the company. Finally, TD Securities raised their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average price target of $155.64.

Wheaton Precious Metals Stock Down 6.4%

Shares of NYSE WPM opened at $130.37 on Friday. The firm has a market cap of $59.20 billion, a PE ratio of 32.92, a P/E/G ratio of 2.52 and a beta of 0.50. Wheaton Precious Metals has a 12-month low of $76.77 and a 12-month high of $165.76. The company’s fifty day simple moving average is $136.66 and its 200 day simple moving average is $128.39.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. Wheaton Precious Metals’s revenue was up 91.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, equities analysts predict that Wheaton Precious Metals will post 4.87 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 19.70%.

Hedge Funds Weigh In On Wheaton Precious Metals

Several large investors have recently modified their holdings of WPM. AQR Capital Management LLC purchased a new position in shares of Wheaton Precious Metals in the first quarter worth about $331,000. Focus Partners Wealth increased its stake in shares of Wheaton Precious Metals by 10.7% in the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock worth $871,000 after purchasing an additional 1,081 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Wheaton Precious Metals in the first quarter worth about $209,000. Sivia Capital Partners LLC purchased a new position in shares of Wheaton Precious Metals in the second quarter worth about $239,000. Finally, Rhumbline Advisers increased its stake in shares of Wheaton Precious Metals by 28.3% in the second quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after purchasing an additional 652 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

About Wheaton Precious Metals

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.