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

Wheaton Precious Metals (NYSE:WPM - Get Free Report) had its target price upped by analysts at Berenberg Bank from $87.00 to $95.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Berenberg Bank's price target suggests a potential upside of 5.12% from the stock's current price.

Several other research analysts have also recently issued reports on the stock. UBS Group raised their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Royal Bank Of Canada raised their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Scotiabank boosted their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a report on Monday, April 14th. CIBC upped their price objective on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research report on Friday, May 9th. Finally, Raymond James Financial lifted their target price on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of "Buy" and an average target price of $93.00.

Wheaton Precious Metals Price Performance

NYSE:WPM traded up $0.68 during trading hours on Thursday, hitting $90.37. 754,618 shares of the company were exchanged, compared to its average volume of 1,707,948. Wheaton Precious Metals has a 52-week low of $53.05 and a 52-week high of $95.23. The company's 50 day moving average price is $86.24 and its 200-day moving average price is $74.06. The stock has a market capitalization of $41.02 billion, a price-to-earnings ratio of 66.45, a PEG ratio of 2.72 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. The business had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. During the same quarter in the previous year, the business earned $0.36 EPS. The company's quarterly revenue was up 58.4% compared to the same quarter last year. On average, equities analysts predict that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors have recently made changes to their positions in WPM. NBT Bank N A NY lifted its holdings in Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after purchasing an additional 234 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the first quarter worth about $38,000. Promus Capital LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $32,000. Banque Cantonale Vaudoise acquired a new position in Wheaton Precious Metals during the first quarter worth about $49,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Wheaton Precious Metals during the 1st quarter valued at about $52,000. 70.34% of the stock is owned by institutional investors and hedge funds.

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.

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