Peel Hunt Issues Pessimistic Forecast for Wheaton Precious Metals (TSE:WPM) Stock Price

Key Points

• Peel Hunt cut Wheaton Precious Metals’ price target from C$220 to C$187, implying roughly 21% upside from the prior close despite the more pessimistic forecast.
• Analyst sentiment remains positive overall: BMO and Stifel raised their targets to C$250, while the consensus rating is “Buy” with an average target of C$199.
• Wheaton reported C$1.78 in quarterly EPS and C$1.25 billion in revenue, with a 65.55% net margin; the stock recently traded near C$154.58, below its 50- and 200-day moving averages.

Wheaton Precious Metals (TSE:WPM - Get Free Report) had its price target cut by research analysts at Peel Hunt from C$220.00 to C$187.00 in a report released on Wednesday,BayStreet.CA reports. Peel Hunt's price target indicates a potential upside of 20.97% from the company's previous close.

Several other research firms have also recently issued reports on WPM. BMO Capital Markets raised their target price on Wheaton Precious Metals from C$240.00 to C$250.00 in a research note on Wednesday, April 22nd. Stifel Nicolaus increased their price objective on Wheaton Precious Metals from C$240.00 to C$250.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$199.00.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock traded up C$0.01 during trading hours on Wednesday, reaching C$154.58. The company had a trading volume of 383,592 shares, compared to its average volume of 806,279. Wheaton Precious Metals has a 12-month low of C$125.08 and a 12-month high of C$226.68. The firm has a market cap of C$70.20 billion, a price-to-earnings ratio of 39.06 and a beta of 1.40. The company has a 50-day moving average price of C$164.14 and a 200 day moving average price of C$181.82.

Wheaton Precious Metals (TSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$1.78 EPS for the quarter. The company had revenue of C$1.25 billion during the quarter. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 21.32%. As a group, research analysts expect that Wheaton Precious Metals will post 2.4749013 earnings per share for the current year.

Insider Buying and Selling at Wheaton Precious Metals

In other Wheaton Precious Metals news, insider Vincent Chun Yip Lau bought 225 shares of Wheaton Precious Metals stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of C$176.85 per share, with a total value of C$39,791.25. Following the transaction, the insider directly owned 1,065 shares of the company's stock, valued at C$188,345.25. This represents a 26.79% increase in their ownership of the stock. 0.13% of the stock is owned by corporate insiders.

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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