Wheaton Precious Metals (NYSE:WPM - Get Rating) had its price objective cut by Raymond James from $55.00 to $54.00 in a research note issued on Friday, BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Raymond James' price target would indicate a potential upside of 61.87% from the company's previous close.
Other equities research analysts also recently issued research reports about the company. National Bank Financial decreased their target price on Wheaton Precious Metals from C$75.00 to C$70.00 in a report on Thursday, July 21st. KeyCorp decreased their price target on Wheaton Precious Metals from $56.00 to $38.00 and set an "overweight" rating for the company in a report on Monday, July 18th. Stifel Nicolaus reduced their target price on Wheaton Precious Metals from C$71.00 to C$66.50 in a research note on Wednesday, July 20th. Barclays reduced their target price on Wheaton Precious Metals from $49.00 to $41.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 19th. Finally, TD Securities reduced their target price on Wheaton Precious Metals from $62.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $54.44.
Wheaton Precious Metals Trading Down 1.2 %
Shares of WPM stock traded down $0.40 during trading hours on Friday, reaching $33.36. 167,368 shares of the company's stock were exchanged, compared to its average volume of 2,703,190. Wheaton Precious Metals has a 1 year low of $31.56 and a 1 year high of $51.90. The stock has a market cap of $15.07 billion, a PE ratio of 19.98, a PEG ratio of 5.01 and a beta of 0.51. The stock's fifty day moving average price is $37.00 and its two-hundred day moving average price is $42.09.
Wheaton Precious Metals (NYSE:WPM - Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Wheaton Precious Metals had a return on equity of 9.60% and a net margin of 63.33%. The business had revenue of $307.24 million for the quarter, compared to analyst estimates of $313.27 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The company's revenue was down 5.2% on a year-over-year basis. On average, equities analysts expect that Wheaton Precious Metals will post 1.31 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. AE Wealth Management LLC grew its stake in Wheaton Precious Metals by 2.1% during the 1st quarter. AE Wealth Management LLC now owns 10,228 shares of the company's stock worth $487,000 after buying an additional 207 shares during the last quarter. Advisor Partners LLC grew its stake in Wheaton Precious Metals by 4.8% during the 1st quarter. Advisor Partners LLC now owns 5,699 shares of the company's stock worth $271,000 after buying an additional 263 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Wheaton Precious Metals by 9.4% during the 4th quarter. Quadrant Capital Group LLC now owns 3,598 shares of the company's stock worth $154,000 after buying an additional 310 shares during the last quarter. PCJ Investment Counsel Ltd. grew its stake in shares of Wheaton Precious Metals by 2.2% in the 4th quarter. PCJ Investment Counsel Ltd. now owns 15,000 shares of the company's stock valued at $644,000 after purchasing an additional 330 shares during the last quarter. Finally, Rational Advisors LLC grew its stake in shares of Wheaton Precious Metals by 136.2% in the 4th quarter. Rational Advisors LLC now owns 574 shares of the company's stock valued at $25,000 after purchasing an additional 331 shares during the last quarter. Hedge funds and other institutional investors own 67.90% of the company's stock.
Wheaton Precious Metals Company Profile
Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.
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