Wheaton Precious Metals Corp. (NYSE:WPM) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Wheaton Precious Metals Corp. has received a consensus rating of "Moderate Buy" from analysts, with an average price target of $116.89.
• Large institutional investors have increased their stakes in the company, with institutional ownership currently at 70.34%.
• The company reported $0.63 EPS for the last quarter, surpassing estimates, and its revenue rose 68.2% year-over-year.

Shares of Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twelve research firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $116.8889.

WPM has been the subject of a number of recent research reports. Raymond James Financial upped their target price on Wheaton Precious Metals from $114.00 to $127.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Bank of America upped their price target on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a "buy" rating in a research report on Thursday, October 16th. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, September 8th. BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Finally, UBS Group upped their price target on Wheaton Precious Metals from $118.00 to $122.00 and gave the company a "neutral" rating in a research report on Thursday, October 16th.

Institutional Trading of Wheaton Precious Metals

Several large investors have recently made changes to their positions in WPM. Janney Montgomery Scott LLC grew its holdings in shares of Wheaton Precious Metals by 10.1% during the first quarter. Janney Montgomery Scott LLC now owns 41,043 shares of the company's stock worth $3,186,000 after purchasing an additional 3,750 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of Wheaton Precious Metals during the first quarter worth $229,000. Continuum Advisory LLC grew its holdings in shares of Wheaton Precious Metals by 9.0% during the first quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock worth $142,000 after purchasing an additional 151 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Wheaton Precious Metals during the first quarter valued at $622,000. Finally, Spire Wealth Management lifted its stake in shares of Wheaton Precious Metals by 56.4% during the first quarter. Spire Wealth Management now owns 8,877 shares of the company's stock valued at $689,000 after acquiring an additional 3,200 shares during the period. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Trading Up 1.3%

Shares of NYSE WPM opened at $97.13 on Thursday. The business has a fifty day simple moving average of $103.69 and a 200 day simple moving average of $92.95. The firm has a market capitalization of $44.09 billion, a price-to-earnings ratio of 56.14, a PEG ratio of 1.72 and a beta of 0.41. Wheaton Precious Metals has a one year low of $55.47 and a one year high of $114.36.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The business had revenue of $503.22 million during the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.Wheaton Precious Metals's revenue was up 68.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. On average, research analysts anticipate that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is presently 38.15%.

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.

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