Wheaton Precious Metals Corp. (NYSE:WPM) Receives $155.45 Consensus PT from Analysts

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $155.6364.

Several equities analysts recently commented on the company. TD Cowen boosted their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Zacks Research lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Friday, March 27th. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors have recently made changes to their positions in WPM. AQR Capital Management LLC acquired a new position in shares of Wheaton Precious Metals in the 1st quarter valued at approximately $331,000. Focus Partners Wealth raised its position in shares of Wheaton Precious Metals by 10.7% in the 1st quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock valued at $871,000 after purchasing an additional 1,081 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Wheaton Precious Metals in the 1st quarter valued at approximately $209,000. Sivia Capital Partners LLC acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $239,000. Finally, Rhumbline Advisers raised its position in shares of Wheaton Precious Metals by 28.3% in the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock valued at $265,000 after purchasing an additional 652 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $130.37 on Monday. The stock’s 50 day moving average price is $136.66 and its 200 day moving average price is $128.63. The firm has a market capitalization of $59.20 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 2.52 and a beta of 0.50. Wheaton Precious Metals has a one year low of $76.77 and a one year high of $165.76.

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

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

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.