Wheaton Precious Metals (NYSE:WPM) Receives Buy (B-) Rating from Weiss Ratings

Key Points

• Wheaton Precious Metals has been reaffirmed a "buy (B-)" rating by Weiss Ratings, demonstrating confidence in the company's performance despite recent fluctuations in its stock price.
• UBS Group increased its price target for Wheaton Precious Metals from $106 to $118, reflecting a positive outlook, while other firms have also issued ratings ranging from "buy" to "hold."
• The company's recent quarterly earnings report showed a significant year-over-year revenue increase of 68.2%, alongside earnings per share surpassing estimates.

Wheaton Precious Metals (NYSE:WPM - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also recently weighed in on WPM. UBS Group increased 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, September 19th. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Scotiabank raised their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. BMO Capital Markets restated an "outperform" rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $109.75.

Wheaton Precious Metals Stock Down 1.3%

Shares of WPM stock traded down $1.36 during trading hours on Wednesday, hitting $106.96. 1,283,708 shares of the company's stock traded hands, compared to its average volume of 1,913,302. The stock's 50 day simple moving average is $101.61 and its 200 day simple moving average is $90.83. The stock has a market cap of $48.56 billion, a PE ratio of 61.81, a price-to-earnings-growth ratio of 2.95 and a beta of 0.41. Wheaton Precious Metals has a 12 month low of $55.47 and a 12 month high of $114.00.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. During the same quarter last year, the firm earned $0.33 earnings per share. The company's revenue for the quarter was up 68.2% on a year-over-year basis. As a group, equities research analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. increased its position in shares of Wheaton Precious Metals by 2.9% during the first quarter. Pacer Advisors Inc. now owns 4,144 shares of the company's stock valued at $322,000 after acquiring an additional 117 shares during the last quarter. Asahi Life Asset Management CO. LTD. increased its stake in shares of Wheaton Precious Metals by 2.8% during the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company's stock worth $393,000 after purchasing an additional 140 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Wheaton Precious Metals by 2.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company's stock worth $523,000 after purchasing an additional 140 shares during the last quarter. Veracity Capital LLC increased its stake in shares of Wheaton Precious Metals by 2.1% during the 3rd quarter. Veracity Capital LLC now owns 7,318 shares of the company's stock worth $818,000 after purchasing an additional 149 shares during the last quarter. Finally, Continuum Advisory LLC increased its stake in shares of Wheaton Precious Metals by 9.0% during the 1st quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock worth $142,000 after purchasing an additional 151 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

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.

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