Royal Bank of Canada Increases Wheaton Precious Metals (NYSE:WPM) Price Target to $90.00

Wheaton Precious Metals (NYSE:WPM - Get Free Report) had its price target raised by stock analysts at Royal Bank of Canada from $80.00 to $90.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank of Canada's target price indicates a potential downside of 1.73% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the company. UBS Group increased their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. Stifel Canada raised Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, Raymond James raised their target price on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $86.90.

Wheaton Precious Metals Stock Down 1.3%

Shares of Wheaton Precious Metals stock traded down $1.16 on Wednesday, hitting $91.59. The stock had a trading volume of 2,642,685 shares, compared to its average volume of 1,680,046. Wheaton Precious Metals has a twelve month low of $51.96 and a twelve month high of $95.18. The business's 50 day moving average is $82.00 and its two-hundred day moving average is $70.46. The stock has a market cap of $41.57 billion, a price-to-earnings ratio of 68.35, a price-to-earnings-growth ratio of 1.91 and a beta of 0.49.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. The business had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm's quarterly revenue was up 58.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. As a group, equities analysts predict that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds have recently modified their holdings of the company. Fruth Investment Management acquired a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at $260,000. Birmingham Capital Management Co. Inc. AL acquired a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at $360,000. Acadian Asset Management LLC bought a new position in Wheaton Precious Metals during the 1st quarter worth $209,000. Belpointe Asset Management LLC bought a new position in Wheaton Precious Metals during the 1st quarter worth $469,000. Finally, Intech Investment Management LLC raised its position in Wheaton Precious Metals by 43.4% during the 1st quarter. Intech Investment Management LLC now owns 106,066 shares of the company's stock worth $8,230,000 after purchasing an additional 32,091 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

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.