Berenberg Bank Boosts Wheaton Precious Metals (NYSE:WPM) Price Target to $64.00

Wheaton Precious Metals (NYSE:WPM - Free Report) had its target price increased by Berenberg Bank from $54.00 to $64.00 in a report issued on Tuesday morning, BayStreet.CA reports. Berenberg Bank currently has a buy rating on the stock.

A number of other brokerages have also weighed in on WPM. TD Securities upgraded Wheaton Precious Metals from a hold rating to a buy rating and increased their target price for the stock from $51.00 to $53.00 in a research note on Monday, March 18th. Scotiabank decreased 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 report on Wednesday, February 28th. Jefferies Financial Group upped their target price on Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a buy rating in a report on Monday, April 22nd. National Bank Financial downgraded shares of Wheaton Precious Metals from an outperform rating to a sector perform rating in a research note on Wednesday, February 21st. Finally, Raymond James reduced their target price on Wheaton Precious Metals from $60.00 to $58.00 and set a market perform rating on the stock in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $58.45.

Wheaton Precious Metals Stock Performance

NYSE:WPM traded up $0.07 during mid-day trading on Tuesday, hitting $57.85. The stock had a trading volume of 1,209,038 shares, compared to its average volume of 2,049,255. The company's 50 day simple moving average is $50.73 and its 200 day simple moving average is $47.82. The stock has a market cap of $26.22 billion, a price-to-earnings ratio of 44.09, a PEG ratio of 7.60 and a beta of 0.75. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $57.87.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The business had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. During the same period in the previous year, the firm earned $0.23 EPS. The firm's revenue was up 38.7% compared to the same quarter last year. As a group, equities analysts forecast that Wheaton Precious Metals will post 1.28 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, May 29th. Wheaton Precious Metals's dividend payout ratio is currently 47.69%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds and other institutional investors have recently made changes to their positions in WPM. CVA Family Office LLC bought a new stake in Wheaton Precious Metals in the 4th quarter worth about $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $31,000. Principal Securities Inc. bought a new stake in Wheaton Precious Metals during the fourth quarter worth $39,000. Fifth Third Bancorp boosted its position in Wheaton Precious Metals by 230.7% in the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company's stock worth $43,000 after purchasing an additional 602 shares during the last quarter. Finally, St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals in the 1st quarter valued at $52,000. 70.34% of the stock is owned by institutional investors.

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.