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Wheaton Precious Metals (NYSE:WPM) Lowered to Hold Rating by Wall Street Zen

Wheaton Precious Metals logo with Basic Materials background

Key Points

  • Wheaton Precious Metals has been downgraded from a "buy" rating to a "hold" rating by research firm Wall Street Zen.
  • Despite the downgrade, analysts at other firms have increased their price targets for the stock, with Scotiabank raising it from $79.00 to $87.00, and Royal Bank of Canada from $80.00 to $90.00.
  • Wheaton Precious Metals reported a strong quarterly performance, with an earnings per share (EPS) of $0.63, beating analysts' estimates and achieving a revenue of $503.22 million.
  • Looking to export and analyze Wheaton Precious Metals data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

A number of other research analysts have also issued reports on the stock. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Royal Bank Of Canada boosted their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Raymond James Financial boosted their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. UBS Group boosted their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, Berenberg Bank boosted their price target 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. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $94.89.

Read Our Latest Report on WPM

Wheaton Precious Metals Stock Performance

NYSE WPM traded down $3.29 during trading on Friday, reaching $97.40. The company's stock had a trading volume of 3,400,390 shares, compared to its average volume of 1,857,841. The firm has a market cap of $44.22 billion, a price-to-earnings ratio of 56.30, a P/E/G ratio of 2.81 and a beta of 0.39. Wheaton Precious Metals has a twelve month low of $55.47 and a twelve month high of $103.81. The business's fifty day moving average price is $91.54 and its 200-day moving average price is $80.93.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued 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. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 12.12%. The business had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. During the same period in the previous year, the business posted $0.33 earnings per share. The business's revenue was up 68.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Institutional Trading of Wheaton Precious Metals

Several institutional investors and hedge funds have recently modified their holdings of WPM. Vanguard Group Inc. lifted its stake in shares of Wheaton Precious Metals by 3.1% during the second quarter. Vanguard Group Inc. now owns 18,554,651 shares of the company's stock valued at $1,668,582,000 after buying an additional 557,793 shares during the period. Delta Asset Management LLC TN acquired a new stake in shares of Wheaton Precious Metals in the second quarter worth $27,000. Integrated Quantitative Investments LLC acquired a new stake in Wheaton Precious Metals during the 2nd quarter valued at $925,000. Rockefeller Capital Management L.P. grew its holdings in Wheaton Precious Metals by 8.1% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 63,945 shares of the company's stock valued at $5,742,000 after purchasing an additional 4,808 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of Wheaton Precious Metals by 35.2% during the second quarter. Ontario Teachers Pension Plan Board now owns 76,115 shares of the company's stock worth $6,849,000 after purchasing an additional 19,824 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Company Profile

(Get Free Report)

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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Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

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