Scotiabank Forecasts Strong Price Appreciation for Wheaton Precious Metals (NYSE:WPM) Stock

Wheaton Precious Metals (NYSE:WPM) had its price objective lifted by equities research analysts at Scotiabank from $178.00 to $180.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 38.07% from the stock’s current price. Scotiabank also issued estimates for Wheaton Precious Metals’ FY2026 earnings at $4.48 EPS and FY2027 earnings at $4.37 EPS.

WPM has been the topic of a number of other research reports. Wall Street Zen lowered Wheaton Precious Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. TD Securities boosted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. TD Cowen boosted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Finally, Zacks Research lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $155.64.

Wheaton Precious Metals Stock Down 6.4%

Shares of WPM stock opened at $130.37 on Thursday. The firm has a market capitalization of $59.20 billion, a P/E ratio of 32.92, a P/E/G ratio of 2.69 and a beta of 0.50. Wheaton Precious Metals has a twelve month low of $76.77 and a twelve month high of $165.76. The stock’s fifty day simple moving average is $136.66 and its 200 day simple moving average is $128.39.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The business had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.Wheaton Precious Metals’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. As a group, equities research analysts expect that Wheaton Precious Metals will post 4.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. lifted its holdings in Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the period. Cornerstone Planning Group LLC lifted its holdings in Wheaton Precious Metals by 245.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after buying an additional 162 shares during the period. Nisa Investment Advisors LLC acquired a new position in Wheaton Precious Metals during the 3rd quarter worth about $26,000. Harvest Fund Management Co. Ltd lifted its holdings in Wheaton Precious Metals by 100.0% during 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 period. Finally, Hollencrest Capital Management lifted its holdings in Wheaton Precious Metals by 73.5% during the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock worth $31,000 after buying an additional 100 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

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.