Wheaton Precious Metals (NYSE:WPM) Stock Price Expected to Rise, TD Cowen Analyst Says

Wheaton Precious Metals (NYSE:WPM) had its price target hoisted by stock analysts at TD Cowen from $164.00 to $165.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 18.61% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. UBS Group reiterated a “neutral” rating and set a $158.00 price objective on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Zacks Research lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Scotiabank reiterated an “outperform” rating and issued a $175.00 price target on shares of Wheaton Precious Metals in a research note on Monday, January 26th. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.90.

Wheaton Precious Metals Stock Down 0.5%

Shares of NYSE WPM traded down $0.76 on Monday, reaching $139.11. 692,775 shares of the company’s stock traded hands, compared to its average volume of 2,389,517. The business’s 50 day simple moving average is $142.92 and its two-hundred day simple moving average is $119.65. Wheaton Precious Metals has a 12 month low of $68.03 and a 12 month high of $165.76. The company has a market cap of $63.16 billion, a price-to-earnings ratio of 42.89, a price-to-earnings-growth ratio of 2.09 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, March 12th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.31. The firm had revenue of $864.71 million for the quarter, compared to analysts’ expectations of $719.59 million. Wheaton Precious Metals had a return on equity of 17.69% and a net margin of 63.58%.The business’s revenue for the quarter was up 127.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. Analysts forecast that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wheaton Precious Metals

Institutional investors have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. raised its stake in Wheaton Precious Metals by 9.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company’s stock worth $89,886,000 after acquiring an additional 69,496 shares during the period. J. Safra Sarasin Holding AG boosted its position in shares of Wheaton Precious Metals by 38.5% in the third quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock worth $7,659,000 after purchasing an additional 19,050 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Wheaton Precious Metals in the third quarter worth $11,355,000. West Family Investments Inc. purchased a new stake in shares of Wheaton Precious Metals in the second quarter worth $247,000. Finally, Norges Bank bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $656,463,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Company Profile

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.