Wheaton Precious Metals (NYSE:WPM) Given a $106.00 Price Target by UBS Group Analysts

Key Points

• UBS Group has reiterated a "neutral" rating for Wheaton Precious Metals (NYSE:WPM) with a price target of $106.00, indicating a potential upside of 9.59% from its current price.
• The stock has seen mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a current price target averaging $94.89.
• Wheaton Precious Metals reported a significant 68.2% increase in revenue year-over-year, with earnings per share of $0.63 that beat estimates, signaling strong financial performance.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) received a $106.00 price objective from stock analysts at UBS Group in a research report issued on Monday, Marketbeat.com reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price target would suggest a potential upside of 9.95% from the stock's previous close.

WPM has been the subject of several other research reports. Raymond James Financial increased their target price on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday. Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.33.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock traded down $1.10 during trading on Monday, reaching $96.41. 2,099,576 shares of the company traded hands, compared to its average volume of 1,882,255. Wheaton Precious Metals has a 1-year low of $55.47 and a 1-year high of $103.81. The company has a 50 day moving average price of $91.74 and a 200-day moving average price of $81.30. The firm has a market capitalization of $43.77 billion, a PE ratio of 55.73, a P/E/G ratio of 2.72 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The business's revenue was up 68.2% on a year-over-year basis. Equities research analysts expect that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Cerity Partners LLC grew its holdings in shares of Wheaton Precious Metals by 5.5% in the first quarter. Cerity Partners LLC now owns 20,271 shares of the company's stock worth $1,574,000 after purchasing an additional 1,058 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Wheaton Precious Metals by 37.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company's stock worth $630,000 after purchasing an additional 2,208 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Wheaton Precious Metals by 5.8% in the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company's stock worth $419,000 after purchasing an additional 297 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of Wheaton Precious Metals in the first quarter worth approximately $531,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Wheaton Precious Metals by 34.6% in the first quarter. Principal Financial Group Inc. now owns 25,244 shares of the company's stock worth $1,959,000 after purchasing an additional 6,486 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

About Wheaton Precious Metals

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.