Wheaton Precious Metals Corp. (NYSE:WPM) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a positive outlook: Wheaton Precious Metals received a consensus “Moderate Buy” rating, with 11 buy ratings and one hold. The average 12-month price target is $166, above the reported opening price of $133.60.
• Quarterly results exceeded expectations: The company reported earnings of $1.19 per share versus the $1.15 consensus estimate, while revenue rose 84.7% year over year to $878 million.
• Shareholders received a quarterly dividend: Wheaton declared a $0.195-per-share dividend, equivalent to $0.78 annually and a 0.6% yield. Institutional investors own approximately 70.34% of the company’s stock.

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $166.00.

Several research analysts recently commented on the stock. UBS Group decreased their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. Scotiabank cut their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Bank of America decreased their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Jefferies Financial Group lowered their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a research note on Monday, July 6th.

Wheaton Precious Metals Price Performance

WPM opened at $133.60 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. The stock's 50 day simple moving average is $142.28 and its 200 day simple moving average is $130.98. The firm has a market cap of $60.68 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.43 and a beta of 0.54. Wheaton Precious Metals has a 1 year low of $92.57 and a 1 year high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The firm had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The business's revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, analysts predict that Wheaton Precious Metals will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a dividend of $0.1950 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, August 20th. Wheaton Precious Metals's payout ratio is currently 17.29%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WPM. Cornerstone Planning Group LLC increased its stake in shares of Wheaton Precious Metals by 245.5% during the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company's stock valued at $29,000 after buying an additional 162 shares during the period. Hollencrest Capital Management raised its holdings in shares of Wheaton Precious Metals by 73.5% during the first quarter. Hollencrest Capital Management now owns 236 shares of the company's stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Wellington Altus USA Inc. lifted its stake in Wheaton Precious Metals by 446.7% in the second quarter. Wellington Altus USA Inc. now owns 328 shares of the company's stock worth $37,000 after acquiring an additional 268 shares during the period. Hickory Point Bank & Trust purchased a new stake in Wheaton Precious Metals in the third quarter worth $40,000. Finally, Bangor Savings Bank bought a new stake in Wheaton Precious Metals in the third quarter valued at $40,000. Institutional investors own 70.34% of the company's stock.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, Canada. Rather than operating mines directly, the company provides mining companies with upfront financing in exchange for the right to purchase a portion of the gold, silver, palladium, cobalt and other metals produced by designated mining operations at predetermined prices.

Wheaton's streaming portfolio is supported by agreements with mining operations in the Americas and other regions, including Canada, the United States, Mexico, Peru, Brazil and Chile.

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