Wheaton Precious Metals (NYSE:WPM) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America recently increased its price target for Wheaton Precious Metals from $127.00 to $132.00, which reflects a potential upside of 19.86% from the stock's previous closing price.
• Multiple analysts have issued positive ratings on Wheaton Precious Metals, with CIBC raising its target price to $160.00 and a consensus rating classified as a "Moderate Buy" with a target of $116.44.
• Wheaton Precious Metals reported significant earnings growth, with a 68.2% year-over-year increase in revenue, totaling $503.22 million and exceeding analysts' expectations.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) had its price target lifted by Bank of America from $127.00 to $132.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price target indicates a potential upside of 19.86% from the company's previous close.

A number of other equities research analysts also recently commented on WPM. CIBC boosted their target price on Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Wheaton Precious Metals in a research report on Wednesday, October 8th. Scotiabank lifted their price target on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 12th. Finally, Raymond James Financial lifted their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.44.

Wheaton Precious Metals Trading Up 1.7%

Shares of WPM stock opened at $110.13 on Thursday. The stock has a market capitalization of $50.00 billion, a price-to-earnings ratio of 63.66, a price-to-earnings-growth ratio of 2.89 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. The stock's 50-day moving average price is $103.14 and its 200-day moving average price is $92.02.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The company had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm's revenue for the quarter was up 68.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. As a group, research analysts predict that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Institutional Trading of Wheaton Precious Metals

Large investors have recently modified their holdings of the company. Cerity Partners LLC boosted its holdings in shares of Wheaton Precious Metals by 5.5% in the first quarter. Cerity Partners LLC now owns 20,271 shares of the company's stock valued at $1,574,000 after purchasing an additional 1,058 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Wheaton Precious Metals by 37.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company's stock worth $630,000 after buying an additional 2,208 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Wheaton Precious Metals by 5.8% in the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company's stock worth $419,000 after buying an additional 297 shares in the last quarter. Voya Investment Management LLC raised its stake in Wheaton Precious Metals by 18.0% in the first quarter. Voya Investment Management LLC now owns 747,477 shares of the company's stock worth $58,026,000 after buying an additional 113,835 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC bought a new position in Wheaton Precious Metals in the second quarter worth approximately $218,000. Hedge funds and other 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.

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