Wheaton Precious Metals Corp. (NYSE:WPM) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Wheaton Precious Metals Corp. has received a consensus rating of "Moderate Buy" from twelve analysts, with an average 1-year price target of $106.11.
• The company recently reported $0.63 earnings per share, exceeding analysts' expectations and showing a 68.2% increase in revenue year-over-year.
• Wheaton Precious Metals announced a quarterly dividend of $0.165, resulting in an annualized dividend yield of 0.6%.

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) has been given an average rating of "Moderate Buy" by the twelve analysts that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $106.1111.

A number of equities analysts have issued reports on the company. UBS Group increased their price target on Wheaton Precious Metals from $106.00 to $118.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Royal Bank Of Canada lifted their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Scotiabank increased their price objective on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. Finally, CIBC boosted their target price on shares of Wheaton Precious Metals from $130.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday.

Wheaton Precious Metals Price Performance

WPM opened at $109.01 on Friday. The firm has a fifty day moving average price of $99.28 and a 200 day moving average price of $89.11. Wheaton Precious Metals has a 1 year low of $55.47 and a 1 year high of $109.67. The stock has a market cap of $49.49 billion, a P/E ratio of 63.01, a P/E/G ratio of 2.94 and a beta of 0.42.

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, beating analysts' consensus estimates 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 company had revenue of $503.22 million during the quarter, compared to analysts' expectations of $424.23 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. The firm's revenue for the quarter was up 68.2% on a year-over-year basis. Equities analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio (DPR) is 38.15%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WPM. Bulwark Capital Corp purchased a new stake in shares of Wheaton Precious Metals during the second quarter worth $27,000. Delta Asset Management LLC TN purchased a new stake in Wheaton Precious Metals during the 2nd quarter valued at about $27,000. NBT Bank N A NY raised its holdings in Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after acquiring an additional 234 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new stake in Wheaton Precious Metals in the 1st quarter valued at about $38,000. Finally, Banque Cantonale Vaudoise purchased a new position in Wheaton Precious Metals in the 1st quarter worth approximately $49,000. 70.34% of the stock is owned by institutional investors and hedge funds.

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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