Wheaton Precious Metals Corp. (TSE:WPM) Stock Rated "Buy" by Wall Street Brokerages

Key Points

• Analysts are broadly bullish: Six brokerages rate Wheaton Precious Metals a “Buy” or “Strong Buy,” with an average 12-month price target of C$203.86.
• Recent financial results were strong: The company reported quarterly earnings of C$1.69 per share, C$1.32 billion in revenue, a 64.66% net margin, and a 22.96% return on equity.
• Shares trade near C$190: Wheaton has an C$86.16 billion market capitalization and recently declared a quarterly dividend of $0.195 per share, representing a 0.4% yield.

Shares of Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report) have earned a consensus recommendation of "Buy" from the six analysts that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$203.86.

Several equities research analysts recently commented on WPM shares. Peel Hunt reduced their price objective on Wheaton Precious Metals from C$220.00 to C$187.00 in a report on Wednesday, July 29th. National Bank Financial boosted their target price on Wheaton Precious Metals from C$205.00 to C$210.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th.

Insider Activity

In other news, insider Nikola Tatarkin sold 3,733 shares of Wheaton Precious Metals stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of C$189.00, for a total value of C$705,537.00. Following the completion of the sale, the insider directly owned 30,756 shares in the company, valued at C$5,812,884. The trade was a 10.82% decrease in their ownership of the stock. 0.13% of the stock is currently owned by insiders.

Wheaton Precious Metals Trading Up 0.4%

Wheaton Precious Metals stock opened at C$189.71 on Friday. The firm has a market cap of C$86.16 billion, a price-to-earnings ratio of 42.08 and a beta of 1.59. The stock has a fifty day simple moving average of C$202.18 and a two-hundred day simple moving average of C$183.57. Wheaton Precious Metals has a 12 month low of C$129.69 and a 12 month high of C$226.68.

Wheaton Precious Metals (TSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$1.69 earnings per share for the quarter. The firm had revenue of C$1.32 billion during the quarter. Wheaton Precious Metals had a return on equity of 22.96% and a net margin of 64.66%. On average, equities research analysts forecast that Wheaton Precious Metals will post 2.47 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, September 3rd were issued a dividend of $0.1950 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 15.97%.

About Wheaton Precious Metals

Wheaton is the world's premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. Wheaton is committed to strong ESG practices and giving back to the communities where Wheaton and its mining partners operate.

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