Wheaton Precious Metals Corp. (NYSE:WPM) Receives $140.44 Consensus Price Target from Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been given an average recommendation of “Buy” by the twelve ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $140.4444.

WPM has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Scotiabank reiterated an “outperform” rating and issued a $175.00 target price on shares of Wheaton Precious Metals in a report on Monday, January 26th. Jefferies Financial Group reissued a “buy” rating and set a $145.00 price target on shares of Wheaton Precious Metals in a research report on Sunday, December 7th. Zacks Research upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, UBS Group reiterated a “neutral” rating and set a $158.00 target price on shares of Wheaton Precious Metals in a report on Friday, January 30th.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $163.40 on Wednesday. The company has a market cap of $74.19 billion, a P/E ratio of 74.27, a P/E/G ratio of 2.47 and a beta of 0.50. Wheaton Precious Metals has a 12 month low of $66.69 and a 12 month high of $164.39. The company has a 50-day moving average of $136.94 and a 200-day moving average of $115.75.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in Wheaton Precious Metals in the 4th quarter valued at $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Wheaton Precious Metals by 36.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock worth $777,938,000 after purchasing an additional 1,847,977 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Wheaton Precious Metals by 40.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company’s stock worth $694,951,000 after buying an additional 1,715,540 shares during the period. Van ECK Associates Corp grew its stake in shares of Wheaton Precious Metals by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock valued at $1,700,517,000 after buying an additional 1,402,092 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Wheaton Precious Metals by 26.1% in the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after buying an additional 1,335,588 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

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.