Wheaton Precious Metals Corp. (NYSE:WPM) Receives Average Rating of "Buy" from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) has received an average rating of "Buy" from the twelve brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $85.90.

Several research analysts recently commented on WPM shares. Royal Bank of Canada increased their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. Stifel Canada raised Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 target price for the company. UBS Group raised their target price on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, Scotiabank raised their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research report on Monday, April 14th.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors and hedge funds have recently made changes to their positions in WPM. Raymond James Financial Inc. acquired a new stake in Wheaton Precious Metals in the 4th quarter valued at approximately $20,790,000. Sei Investments Co. increased its stake in Wheaton Precious Metals by 25.7% during the 4th quarter. Sei Investments Co. now owns 40,769 shares of the company's stock valued at $2,293,000 after buying an additional 8,331 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Wheaton Precious Metals by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company's stock valued at $22,442,000 after acquiring an additional 33,256 shares during the period. Pacer Advisors Inc. increased its stake in shares of Wheaton Precious Metals by 5.7% during the fourth quarter. Pacer Advisors Inc. now owns 4,027 shares of the company's stock valued at $226,000 after acquiring an additional 216 shares during the period. Finally, Gotham Asset Management LLC increased its stake in shares of Wheaton Precious Metals by 83.8% during the fourth quarter. Gotham Asset Management LLC now owns 6,324 shares of the company's stock valued at $356,000 after acquiring an additional 2,884 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Down 1.2%

Shares of NYSE:WPM traded down $1.05 during trading on Monday, hitting $85.57. The stock had a trading volume of 1,944,498 shares, compared to its average volume of 1,678,665. Wheaton Precious Metals has a 12-month low of $51.96 and a 12-month high of $87.42. The stock has a market capitalization of $38.83 billion, a price-to-earnings ratio of 63.86, a price-to-earnings-growth ratio of 1.91 and a beta of 0.49. The stock has a 50-day simple moving average of $80.10 and a two-hundred day simple moving average of $69.08.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business had revenue of $470.41 million during the quarter, compared to analyst estimates of $446.33 million. During the same quarter last year, the business posted $0.36 EPS. The company's revenue was up 58.4% on a year-over-year basis. As a group, sell-side analysts forecast that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $0.165 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.77%. Wheaton Precious Metals's dividend payout ratio (DPR) is 48.53%.

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.