Jefferies Financial Group Raises Wheaton Precious Metals (NYSE:WPM) Price Target to $61.00

Wheaton Precious Metals (NYSE:WPM - Get Free Report) had its price objective boosted by equities research analysts at Jefferies Financial Group from $52.00 to $61.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's price target indicates a potential upside of 18.38% from the company's previous close.

Several other equities analysts also recently commented on the stock. Raymond James dropped their price objective on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a "market perform" rating for the company in a research note on Thursday, February 22nd. Berenberg Bank raised their price target on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, March 27th. CIBC raised their price objective on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, February 7th. BMO Capital Markets dropped their price target on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 21st. Finally, Scotiabank dropped their price target on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Wheaton Precious Metals presently has an average rating of "Moderate Buy" and a consensus target price of $59.32.

Wheaton Precious Metals Trading Down 2.1 %

NYSE WPM traded down $1.12 during trading on Monday, reaching $51.53. The company's stock had a trading volume of 2,343,279 shares, compared to its average volume of 2,160,370. The firm has a 50 day moving average price of $45.86 and a 200 day moving average price of $46.06. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $54.30. The firm has a market capitalization of $23.36 billion, a price-to-earnings ratio of 43.28, a price-to-earnings-growth ratio of 7.23 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Thursday, March 14th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.04. The company had revenue of $313.47 million during the quarter, compared to the consensus estimate of $284.29 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. On average, equities analysts forecast that Wheaton Precious Metals will post 1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Wheaton Precious Metals

Several institutional investors have recently made changes to their positions in WPM. CVA Family Office LLC purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at approximately $26,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Wheaton Precious Metals in the fourth quarter valued at $31,000. Principal Securities Inc. purchased a new position in shares of Wheaton Precious Metals in the fourth quarter valued at $39,000. Fifth Third Bancorp grew its holdings in shares of Wheaton Precious Metals by 230.7% in the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company's stock valued at $43,000 after purchasing an additional 602 shares in the last quarter. Finally, Mechanics Financial Corp lifted its position in Wheaton Precious Metals by 200.0% in the third quarter. Mechanics Financial Corp now owns 900 shares of the company's stock worth $36,000 after buying an additional 600 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Company Profile

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.