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

Key Points

• Wheaton Precious Metals has a “Moderate Buy” consensus rating: Eleven of 12 covering brokerages recommend buying the stock, while one rates it a hold. The average 12-month price target is $165.55.
• Institutional ownership remains high at 70.34%. Several investors increased their positions during the second quarter, including Cidel Asset Management, which significantly expanded its stake.
• Recent financial results exceeded expectations: Quarterly EPS came in at $1.19 versus the $1.15 consensus, while revenue rose 84.7% year over year to $878 million. The company also maintains a quarterly dividend of $0.195 per share, equivalent to a 0.5% yield.

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $165.5455.

WPM has been the topic of a number of research reports. UBS Group dropped their target price on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Royal Bank Of Canada dropped their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Scotiabank cut their target price on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group decreased their target price 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.

Institutional Investors Weigh In On Wheaton Precious Metals

Several large investors have recently made changes to their positions in WPM. Sequoia Financial Advisors LLC increased its holdings in Wheaton Precious Metals by 98.5% in the second quarter. Sequoia Financial Advisors LLC now owns 22,204 shares of the company's stock worth $2,494,000 after buying an additional 11,016 shares during the last quarter. Cidel Asset Management Inc. lifted its stake in Wheaton Precious Metals by 7,896.4% in the second quarter. Cidel Asset Management Inc. now owns 137,538 shares of the company's stock valued at $15,466,000 after acquiring an additional 135,818 shares during the last quarter. NorthRock Partners LLC grew its position in Wheaton Precious Metals by 158.6% in the second quarter. NorthRock Partners LLC now owns 4,106 shares of the company's stock worth $461,000 after acquiring an additional 2,518 shares in the last quarter. Baird Financial Group Inc. grew its position in Wheaton Precious Metals by 0.3% in the second quarter. Baird Financial Group Inc. now owns 54,266 shares of the company's stock worth $6,095,000 after acquiring an additional 137 shares in the last quarter. Finally, Allworth Financial LP grew its position in Wheaton Precious Metals by 3.9% in the second quarter. Allworth Financial LP now owns 6,972 shares of the company's stock worth $783,000 after acquiring an additional 260 shares in the last quarter. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $154.09 on Friday. Wheaton Precious Metals has a 1-year low of $92.57 and a 1-year high of $165.76. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $69.98 billion, a price-to-earnings ratio of 34.17, a P/E/G ratio of 2.72 and a beta of 0.60. The stock's fifty day simple moving average is $130.29 and its 200-day simple moving average is $131.84.

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 (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The firm had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same period in the prior year, the business earned $0.63 EPS. The business's revenue for the quarter was up 84.7% on a year-over-year basis. On average, sell-side analysts predict that Wheaton Precious Metals will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were given a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio is presently 17.29%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. NYSE: WPM is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the future production from specific mining projects at predetermined prices.

Wheaton's streaming portfolio is primarily focused on gold and silver, with additional exposure to palladium and cobalt through certain agreements.

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