Berenberg Bank Issues Positive Forecast for Wheaton Precious Metals (NYSE:WPM) Stock Price

Key Points

• Berenberg Bank has increased its price target for Wheaton Precious Metals from $102.00 to $108.00, maintaining a "buy" rating, suggesting a potential upside of 1.24% from the current stock price.
• The company reported $0.63 earnings per share for the last quarter, exceeding analyst expectations and achieving a revenue increase of 68.2% compared to the same period last year.
• Wheaton Precious Metals has received positive ratings from multiple brokerages, with a consensus rating of "Moderate Buy" and an average target price of $101.44 among analysts.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) had its price objective upped by research analysts at Berenberg Bank from $102.00 to $108.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Berenberg Bank's price target indicates a potential upside of 1.24% from the stock's current price.

A number of other brokerages have also recently commented on WPM. Scotiabank upped their target price on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. Royal Bank Of Canada boosted their price target 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. Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday. UBS Group set a $106.00 target price on shares of Wheaton Precious Metals and gave the stock a "neutral" rating in a report on Monday, August 11th. Finally, National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $101.44.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM traded down $0.70 during trading hours on Friday, hitting $106.68. The company's stock had a trading volume of 891,753 shares, compared to its average volume of 1,852,281. The business has a 50-day simple moving average of $95.58 and a 200-day simple moving average of $86.18. Wheaton Precious Metals has a 12 month low of $55.47 and a 12 month high of $108.67. The stock has a market cap of $48.43 billion, a price-to-earnings ratio of 61.66, a P/E/G ratio of 2.90 and a beta of 0.42.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The business had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same period in the previous year, the firm earned $0.33 EPS. The company's quarterly revenue was up 68.2% compared to the same quarter last year. On average, equities research analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current year.

Institutional Trading of Wheaton Precious Metals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its holdings in Wheaton Precious Metals by 2.9% in the first quarter. Pacer Advisors Inc. now owns 4,144 shares of the company's stock valued at $322,000 after purchasing an additional 117 shares during the last quarter. Asahi Life Asset Management CO. LTD. boosted its position in Wheaton Precious Metals by 2.8% during the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company's stock worth $393,000 after acquiring an additional 140 shares during the last quarter. Avantax Advisory Services Inc. increased its position in shares of Wheaton Precious Metals by 2.1% in the first quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company's stock valued at $523,000 after acquiring an additional 140 shares during the last quarter. Continuum Advisory LLC lifted its stake in Wheaton Precious Metals by 9.0% in the 1st quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock valued at $142,000 after purchasing an additional 151 shares during the last quarter. Finally, HB Wealth Management LLC increased its holdings in shares of Wheaton Precious Metals by 3.2% in the second quarter. HB Wealth Management LLC now owns 5,068 shares of the company's stock valued at $455,000 after purchasing an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

About Wheaton Precious Metals

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.