Wheaton Precious Metals Corp. (NYSE:WPM) Receives $145.18 Average Price Target from Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been assigned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $145.1818.

WPM has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Wheaton Precious Metals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Zacks Research lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. TD Securities upped their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Assetmark Inc. raised its stake in Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in Wheaton Precious Metals in the 3rd quarter worth approximately $26,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after buying an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in shares of Wheaton Precious Metals in the 4th quarter worth $28,000. Finally, Navalign LLC purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at $30,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Up 0.4%

Shares of WPM opened at $120.41 on Friday. The business’s 50-day moving average price is $142.97 and its 200-day moving average price is $120.86. Wheaton Precious Metals has a twelve month low of $68.03 and a twelve month high of $165.76. The stock has a market cap of $54.67 billion, a PE ratio of 37.16, a P/E/G ratio of 1.72 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, March 12th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.31. The company had revenue of $864.71 million during the quarter, compared to analyst estimates of $719.59 million. Wheaton Precious Metals had a net margin of 63.58% and a return on equity of 17.17%. Wheaton Precious Metals’s revenue was up 127.3% compared to the same quarter last year. During the same period last year, the business earned $0.44 earnings per share. Analysts expect that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.195 per share. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, March 31st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is 20.37%.

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.