Wheaton Precious Metals (NYSE:WPM) Given New $178.00 Price Target at Scotiabank

Key Points

• Scotiabank raised its price target for Wheaton Precious Metals to $178 (from $175) and maintains a "sector outperform" rating, implying about a 30.2% upside; the bank projects FY2025 EPS of $2.93 and FY2026 EPS of $4.21.
• Analyst consensus is a "Moderate Buy" with 11 Buys and 2 Holds and a consensus price target of $143.20, while WPM shares traded at $136.72 (down ~2.3%) and the company has a market cap of $62.07 billion.
• Wheaton recently reported a strong quarter—EPS $1.22 vs. $0.91 expected and revenue $864.7M vs. $719.6M expected, with revenue up 127% year-over-year and a net margin of 63.6%.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) had its price target upped by equities researchers at Scotiabank from $175.00 to $178.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's target price points to a potential upside of 30.20% from the stock's current price. Scotiabank also issued estimates for Wheaton Precious Metals' FY2025 earnings at $2.93 EPS, FY2025 earnings at $2.93 EPS and FY2026 earnings at $4.21 EPS.

Several other equities analysts have also recently weighed in on the stock. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th. UBS Group reiterated a "neutral" rating and issued a $158.00 price target on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Weiss Ratings restated a "buy (b)" rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Zacks Research cut Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 5th. Finally, Wall Street Zen upgraded Wheaton Precious Metals from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.20.

Wheaton Precious Metals Stock Down 2.3%

NYSE WPM traded down $3.15 during trading hours on Monday, reaching $136.72. The company's stock had a trading volume of 992,126 shares, compared to its average volume of 2,395,309. Wheaton Precious Metals has a 1 year low of $68.03 and a 1 year high of $165.76. The company has a market capitalization of $62.07 billion, a price-to-earnings ratio of 42.14, a PEG ratio of 2.09 and a beta of 0.50. The firm's 50-day moving average price is $142.92 and its 200-day moving average price is $119.65.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.31. The business had revenue of $864.71 million during the quarter, compared to analyst estimates of $719.59 million. Wheaton Precious Metals had a net margin of 63.58% and a return on equity of 17.69%. The company's revenue was up 127.3% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. Equities research analysts anticipate that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Wheaton Precious Metals

Large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its holdings in shares of Wheaton Precious Metals by 252.1% in the 4th quarter. Corient Private Wealth LLC now owns 56,640 shares of the company's stock worth $6,656,000 after purchasing an additional 40,555 shares during the period. Bayban purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at $74,000. Caitong International Asset Management Co. Ltd bought a new stake in Wheaton Precious Metals in the fourth quarter worth $569,000. Groupama Asset Managment boosted its stake in Wheaton Precious Metals by 32.7% during the fourth quarter. Groupama Asset Managment now owns 39,879 shares of the company's stock worth $4,687,000 after buying an additional 9,832 shares during the period. Finally, Mcguire Capital Advisors Inc. bought a new position in Wheaton Precious Metals during the fourth quarter valued at $138,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company's activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.