Wheaton Precious Metals (NYSE:WPM) Sets New 12-Month High - Should You Buy?

Key Points

• Wheaton Precious Metals recently reached a new 52-week high of $109.67, showcasing strong trading activity with a volume of 118,765 shares.
• Analyst ratings for Wheaton Precious Metals are predominantly positive, with eight analysts giving it a Buy rating and a consensus price target of $102.78.
• The company reported substantial growth, with a 68.2% increase in quarterly revenue year-over-year, totaling $503.22 million, and an EPS of $0.63, beating forecasts by $0.05.

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $109.67 and last traded at $106.83, with a volume of 118765 shares. The stock had previously closed at $107.65.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WPM shares. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, September 8th. Berenberg Bank increased their price objective on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Royal Bank Of Canada lifted their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. UBS Group raised their price objective on shares of Wheaton Precious Metals from $106.00 to $118.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $102.78.

Wheaton Precious Metals Stock Performance

The stock's fifty day moving average price is $97.86 and its two-hundred day moving average price is $88.22. The company has a market cap of $48.81 billion, a P/E ratio of 62.15, a P/E/G ratio of 2.91 and a beta of 0.42.

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

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 21st. Wheaton Precious Metals's payout ratio is presently 38.15%.

Institutional Investors Weigh In On Wheaton Precious Metals

Hedge funds and other institutional investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at about $267,000. Newbridge Financial Services Group Inc. raised its holdings in Wheaton Precious Metals by 287.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,672 shares of the company's stock worth $150,000 after purchasing an additional 1,240 shares during the last quarter. Advisory Services Network LLC raised its holdings in Wheaton Precious Metals by 35.5% during the 2nd quarter. Advisory Services Network LLC now owns 30,834 shares of the company's stock worth $2,822,000 after purchasing an additional 8,075 shares during the last quarter. State of Wyoming acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $782,000. Finally, Nomura Holdings Inc. bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at $25,952,000. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Company Profile

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.