Wheaton Precious Metals Corp. (NYSE:WPM) Stock Has Average Target Price of $172.11

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $172.11.

WPM has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their target price on Wheaton Precious Metals from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Scotiabank decreased their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Weiss Ratings lowered shares of Wheaton Precious Metals from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Finally, Bank of America reduced their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, July 9th.

Institutional Trading of Wheaton Precious Metals

Institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Wealth Management LLC bought a new position in Wheaton Precious Metals in the 3rd quarter worth $204,000. Gen Wealth Partners Inc lifted its position in shares of Wheaton Precious Metals by 27.4% in the 3rd quarter. Gen Wealth Partners Inc now owns 465 shares of the company’s stock worth $62,000 after purchasing an additional 100 shares during the period. Vestor Capital LLC purchased a new stake in shares of Wheaton Precious Metals in the 3rd quarter worth about $76,000. AlphaCore Capital LLC purchased a new stake in shares of Wheaton Precious Metals in the 3rd quarter worth about $574,000. Finally, Fulcrum Asset Management LLP bought a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at about $319,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $131.47 on Monday. Wheaton Precious Metals has a one year low of $95.59 and a one year high of $165.76. The business has a fifty day moving average price of $139.48 and a 200-day moving average price of $133.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $59.71 billion, a P/E ratio of 29.15, a PEG ratio of 2.30 and a beta of 0.56.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. As a group, equities research analysts forecast that Wheaton Precious Metals will post 4.57 EPS for the current year.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the gold, silver, palladium and cobalt produced by specific mining operations at predetermined prices.

Wheaton sells the streamed metals to customers and uses the proceeds to support its operations and investments. Its portfolio is linked to mining assets operated by third parties, with exposure to projects in the Americas and other regions.