Wheaton Precious Metals Corp. (NYSE:WPM) Receives $93.00 Consensus Price Target from Analysts

Key Points

• Wheaton Precious Metals Corp. has received a consensus rating of "Buy" from analysts, with ten out of twelve recommending buys and a twelve-month average price objective of $93.00.
• The company's recent quarterly earnings surpassed expectations, reporting $0.63 earnings per share and revenue of $503.22 million, up 68.2% from the same quarter last year.
• Wheaton Precious Metals has declared a $0.165 quarterly dividend, representing an annual yield of 0.7%, with a payout ratio of 48.53%.

Shares of Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $94.8889.

A number of brokerages have commented on WPM. Scotiabank lifted their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research note on Monday, April 14th. Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group set a $106.00 price target on shares of Wheaton Precious Metals and gave the company a "neutral" rating in a report on Monday. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday. Finally, Berenberg Bank upped their price objective on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd.

Institutional Investors Weigh In On Wheaton Precious Metals

Several institutional investors and hedge funds have recently bought and sold shares of WPM. Bulwark Capital Corp bought a new stake in Wheaton Precious Metals in the second quarter worth $27,000. Delta Asset Management LLC TN purchased a new stake in shares of Wheaton Precious Metals during the second quarter worth about $27,000. NBT Bank N A NY grew its holdings in Wheaton Precious Metals by 129.3% during the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after buying an additional 234 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in Wheaton Precious Metals during the 1st quarter valued at approximately $38,000. Finally, City State Bank lifted its stake in shares of Wheaton Precious Metals by 40.0% in the 2nd quarter. City State Bank now owns 560 shares of the company's stock valued at $50,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Trading Down 3.3%

Shares of NYSE:WPM traded down $3.29 during trading on Friday, hitting $97.40. 3,400,390 shares of the stock were exchanged, compared to its average volume of 1,857,841. Wheaton Precious Metals has a 12-month low of $55.47 and a 12-month high of $103.81. The company has a fifty day moving average price of $91.54 and a two-hundred day moving average price of $80.93. The company has a market cap of $44.22 billion, a PE ratio of 56.30, a P/E/G ratio of 2.81 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 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 12.12% and a net margin of 47.46%. The business had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. During the same period in the prior year, the firm posted $0.33 EPS. The business's revenue for the quarter was up 68.2% on a year-over-year basis. Equities research analysts anticipate that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. 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.