Raymond James Raises Wheaton Precious Metals (NYSE:WPM) Price Target to $90.00

Wheaton Precious Metals (NYSE:WPM - Get Free Report) had its price objective upped by research analysts at Raymond James from $88.00 to $90.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Raymond James' price target indicates a potential upside of 6.94% from the stock's current price. Raymond James also issued estimates for Wheaton Precious Metals' Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.59 EPS, Q3 2025 earnings at $0.64 EPS, Q4 2025 earnings at $0.64 EPS and FY2025 earnings at $2.40 EPS.

Other analysts also recently issued reports about the stock. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Royal Bank of Canada upped their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. Scotiabank lifted their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research note on Monday, April 14th. Finally, UBS Group increased their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Wheaton Precious Metals currently has an average rating of "Buy" and an average target price of $83.40.

Wheaton Precious Metals Price Performance

WPM traded down $0.60 during mid-day trading on Tuesday, hitting $84.16. The stock had a trading volume of 1,745,316 shares, compared to its average volume of 1,640,903. The stock's fifty day simple moving average is $73.63 and its 200-day simple moving average is $65.61. The firm has a market capitalization of $38.18 billion, a price-to-earnings ratio of 62.81, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals has a 1-year low of $50.91 and a 1-year high of $86.20.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $380.52 million for the quarter, compared to the consensus estimate of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business's revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, research analysts expect that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently modified their holdings of WPM. Van ECK Associates Corp raised its position in shares of Wheaton Precious Metals by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock valued at $1,154,843,000 after purchasing an additional 1,231,999 shares during the period. Vanguard Group Inc. lifted its position in Wheaton Precious Metals by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock worth $994,733,000 after acquiring an additional 281,123 shares during the last quarter. FMR LLC boosted its holdings in shares of Wheaton Precious Metals by 5.9% during the fourth quarter. FMR LLC now owns 15,529,219 shares of the company's stock worth $873,995,000 after acquiring an additional 863,306 shares during the period. Royal Bank of Canada grew its position in shares of Wheaton Precious Metals by 5.0% in the fourth quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock valued at $530,057,000 after purchasing an additional 447,702 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $472,648,000. 70.34% of the stock is owned by 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.