Wheaton Precious Metals (NYSE:WPM) Given Buy (B-) Rating at Weiss Ratings

Key Points

• Wheaton Precious Metals' stock received a "buy (B-)" rating from Weiss Ratings, with several analysts, including Raymond James and CIBC, raising their price targets significantly.
• The company reported a quarterly earnings per share (EPS) of $0.63, exceeding analysts' expectations, and achieved a revenue of $503.22 million, marking a 68.2% year-over-year increase.
• Institutional investors hold 70.34% of Wheaton Precious Metals' stock, indicating strong interest in the company among major investors.

Wheaton Precious Metals (NYSE:WPM - Get Free Report)'s stock had its "buy (b-)" rating reissued by stock analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Other equities analysts have also recently issued reports about the company. Raymond James Financial increased their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an "outperform" rating in a report on Friday, October 10th. Scotiabank reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Thursday. CIBC upped their target price on Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, September 8th. Finally, Berenberg Bank upped their target price on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Moderate Buy" and a consensus price target of $119.00.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded down $0.45 on Friday, reaching $97.78. 899,173 shares of the company's stock were exchanged, compared to its average volume of 1,956,584. The company has a market capitalization of $44.39 billion, a P/E ratio of 56.62, a price-to-earnings-growth ratio of 1.74 and a beta of 0.41. Wheaton Precious Metals has a 52 week low of $55.47 and a 52 week high of $114.36. The firm's 50-day moving average is $103.76 and its two-hundred day moving average is $93.14.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The firm 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 company's revenue for the quarter was up 68.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 EPS. On average, analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC purchased a new stake in Wheaton Precious Metals in the 3rd quarter valued at $26,000. Bulwark Capital Corp purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $27,000. Delta Asset Management LLC TN purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $27,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at $38,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at $49,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

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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