Wheaton Precious Metals Corp. (NYSE:WPM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been given an average rating of “Moderate Buy” by the eight research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $56.56.

WPM has been the subject of several analyst reports. CIBC upped their price objective on Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities raised Wheaton Precious Metals from a “hold” rating to a “buy” rating and raised their price objective for the stock from $51.00 to $53.00 in a research note on Monday, March 18th. Raymond James cut their price objective on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Thursday, February 22nd. National Bank Financial cut shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Finally, BMO Capital Markets lifted their price target on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Duality Advisers LP bought a new position in Wheaton Precious Metals during the third quarter valued at approximately $913,000. Stack Financial Management Inc grew its holdings in shares of Wheaton Precious Metals by 0.9% in the third quarter. Stack Financial Management Inc now owns 374,816 shares of the company’s stock valued at $15,199,000 after purchasing an additional 3,527 shares in the last quarter. Signaturefd LLC increased its position in Wheaton Precious Metals by 3.2% in the third quarter. Signaturefd LLC now owns 11,562 shares of the company’s stock worth $469,000 after purchasing an additional 363 shares during the last quarter. Syon Capital LLC purchased a new stake in Wheaton Precious Metals during the third quarter valued at $254,000. Finally, Euro Pacific Asset Management LLC lifted its position in Wheaton Precious Metals by 0.8% during the third quarter. Euro Pacific Asset Management LLC now owns 330,489 shares of the company’s stock valued at $13,400,000 after purchasing an additional 2,489 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $56.60 on Thursday. The stock’s 50-day simple moving average is $51.21 and its two-hundred day simple moving average is $47.97. The stock has a market capitalization of $25.66 billion, a price-to-earnings ratio of 43.54, a PEG ratio of 7.69 and a beta of 0.75. Wheaton Precious Metals has a 52-week low of $38.37 and a 52-week high of $57.87.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company had revenue of $296.80 million for the quarter, compared to the consensus estimate of $278.95 million. During the same quarter last year, the firm posted $0.23 earnings per share. The firm’s revenue was up 38.7% compared to the same quarter last year. As a group, equities analysts forecast that Wheaton Precious Metals will post 1.28 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a yield of 1.10%. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

Wheaton Precious Metals Company Profile

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.