Wheaton Precious Metals (NYSE:WPM) Raised to "Buy" at Wall Street Zen

Key Points

• Wheaton Precious Metals has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting positive sentiment from analysts.
• Multiple research firms have reiterated or increased their price targets, suggesting a consensus target price of $97.33 with several firms rating it as a "buy".
• Wheaton reported $0.63 EPS for its last quarter, exceeding estimates and showing a significant revenue increase of 68.2% compared to the same period last year.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

WPM has been the topic of a number of other research reports. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. CIBC restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, July 15th. Berenberg Bank upped their price target on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Scotiabank upped their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada increased their price objective 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. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $97.33.

Wheaton Precious Metals Trading Up 1.2%

Shares of Wheaton Precious Metals stock opened at $95.5120 on Friday. Wheaton Precious Metals has a 12-month low of $55.47 and a 12-month high of $103.81. The firm has a market capitalization of $43.36 billion, a price-to-earnings ratio of 55.21, a PEG ratio of 2.62 and a beta of 0.39. The firm's 50 day simple moving average is $92.34 and its two-hundred day simple moving average is $82.93.

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, beating 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 11.96%. The business had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. During the same quarter in the prior year, the business posted $0.33 EPS. Wheaton Precious Metals's revenue for the quarter was up 68.2% compared to the same quarter last year. On average, sell-side analysts predict that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Institutional Trading of Wheaton Precious Metals

A number of hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new stake in Wheaton Precious Metals during the second quarter worth $267,000. Newbridge Financial Services Group Inc. boosted its holdings in Wheaton Precious Metals by 287.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,672 shares of the company's stock worth $150,000 after buying an additional 1,240 shares in the last quarter. Advisory Services Network LLC boosted its holdings in Wheaton Precious Metals by 35.5% during the second quarter. Advisory Services Network LLC now owns 30,834 shares of the company's stock worth $2,822,000 after buying an additional 8,075 shares in the last quarter. State of Wyoming purchased a new stake in Wheaton Precious Metals during the second quarter worth $782,000. Finally, Nomura Holdings Inc. purchased a new stake in Wheaton Precious Metals during the second quarter worth $25,952,000. 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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