Wheaton Precious Metals Corp. (NYSE:WPM) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Wheaton Precious Metals Corp. has received a consensus rating of "Moderate Buy" from twelve research firms, with an average 12-month target price of $97.33.
• The company reported a 68.2% increase in quarterly revenue year-over-year, totaling $503.22 million, along with earnings per share of $0.63, surpassing analyst expectations.
• Wheaton Precious Metals recently announced a quarterly dividend of $0.165 per share, representing a yield of 0.6% and a payout ratio of 38.15%.

Shares of Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twelve research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $97.3333.

WPM has been the topic of several analyst reports. Royal Bank Of Canada upped their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. UBS Group set a $106.00 target price on Wheaton Precious Metals and gave the company a "neutral" rating in a report on Monday, August 11th. Scotiabank upped their target price on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Finally, National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th.

Hedge Funds Weigh In On Wheaton Precious Metals

Institutional investors have recently added to or reduced their stakes in the business. Bulwark Capital Corp acquired a new position in Wheaton Precious Metals in the second quarter valued at approximately $27,000. Delta Asset Management LLC TN acquired a new position in Wheaton Precious Metals in the second quarter valued at approximately $27,000. NBT Bank N A NY lifted its stake in Wheaton Precious Metals by 129.3% in the first 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 during the period. Wealth Preservation Advisors LLC acquired a new position in Wheaton Precious Metals in the first quarter valued at approximately $38,000. Finally, City State Bank lifted its stake in Wheaton Precious Metals by 40.0% in the second quarter. City State Bank now owns 560 shares of the company's stock valued at $50,000 after buying an additional 160 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Up 1.1%

NYSE:WPM opened at $101.56 on Wednesday. The stock has a market cap of $46.10 billion, a P/E ratio of 58.71, a price-to-earnings-growth ratio of 2.77 and a beta of 0.42. The stock's 50-day moving average is $93.44 and its 200-day moving average is $84.55. Wheaton Precious Metals has a 1-year low of $55.47 and a 1-year high of $103.81.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $503.22 million for the quarter, compared to analysts' expectations of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business's quarterly revenue was up 68.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. As a group, equities analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a $0.165 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.66 annualized dividend and a yield of 0.6%. 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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