Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $64.00 at Berenberg Bank

Wheaton Precious Metals (NYSE:WPM) had its price target upped by Berenberg Bank from $54.00 to $64.00 in a report issued on Tuesday, BayStreet.CA reports. Berenberg Bank currently has a buy rating on the stock.

WPM has been the topic of several other reports. National Bank Financial downgraded shares of Wheaton Precious Metals from an outperform rating to a sector perform rating in a research report on Wednesday, February 21st. BMO Capital Markets boosted their price objective on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an outperform rating in a research note on Tuesday. CIBC increased their price objective on Wheaton Precious Metals from $66.00 to $70.00 and gave the company an outperform rating in a report on Wednesday, February 7th. Raymond James reduced their price target on Wheaton Precious Metals from $60.00 to $58.00 and set a market perform rating on the stock in a research report on Thursday, February 22nd. Finally, TD Securities upgraded 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 report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $61.33.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $56.44 on Tuesday. The company’s 50 day moving average price is $51.67 and its two-hundred day moving average price is $48.10. The firm has a market capitalization of $25.59 billion, a P/E ratio of 43.42, a P/E/G ratio of 2.02 and a beta of 0.75. Wheaton Precious Metals has a fifty-two week low of $38.37 and a fifty-two week high of $57.87.

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

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Duality Advisers LP bought a new position in shares of Wheaton Precious Metals during the 3rd quarter worth about $913,000. Signaturefd LLC grew its stake in Wheaton Precious Metals by 3.2% in the third quarter. Signaturefd LLC now owns 11,562 shares of the company’s stock valued at $469,000 after acquiring an additional 363 shares during the period. Syon Capital LLC bought a new stake in shares of Wheaton Precious Metals during the third quarter valued at approximately $254,000. Euro Pacific Asset Management LLC raised its position in shares of 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 worth $13,400,000 after purchasing an additional 2,489 shares during the period. Finally, Parsons Capital Management Inc. RI lifted its holdings in shares of Wheaton Precious Metals by 0.4% in the 3rd quarter. Parsons Capital Management Inc. RI now owns 57,361 shares of the company’s stock worth $2,326,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

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.