Wheaton Precious Metals (NYSE:WPM) Upgraded at StockNews.com

StockNews.com upgraded shares of Wheaton Precious Metals (NYSE:WPM - Free Report) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

WPM has been the subject of several other research reports. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. UBS Group raised their target price 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. CIBC raised their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research report on Friday, May 9th. Royal Bank of Canada raised their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Friday, April 4th. Finally, Scotiabank raised their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $85.90.

Wheaton Precious Metals Trading Down 0.5%

WPM traded down $0.42 during midday trading on Monday, reaching $78.35. The company's stock had a trading volume of 2,161,291 shares, compared to its average volume of 1,675,166. The stock has a market cap of $35.56 billion, a P/E ratio of 58.47, a PEG ratio of 1.91 and a beta of 0.49. The company has a fifty day simple moving average of $78.69 and a 200 day simple moving average of $68.12. Wheaton Precious Metals has a twelve month low of $51.96 and a twelve month high of $87.42.

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

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a $0.165 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.66 annualized dividend and a yield of 0.84%. Wheaton Precious Metals's payout ratio is 48.53%.

Hedge Funds Weigh In On Wheaton Precious Metals

Several institutional investors have recently bought and sold shares of the business. United Services Automobile Association raised its position in Wheaton Precious Metals by 3.2% in the 1st quarter. United Services Automobile Association now owns 15,478 shares of the company's stock valued at $1,191,000 after purchasing an additional 484 shares during the last quarter. Guardian Partners Inc. bought a new stake in shares of Wheaton Precious Metals during the first quarter worth $538,000. Scientech Research LLC raised its position in shares of Wheaton Precious Metals by 21.0% during the first quarter. Scientech Research LLC now owns 8,059 shares of the company's stock worth $626,000 after acquiring an additional 1,396 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Wheaton Precious Metals by 10.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company's stock worth $393,800,000 after acquiring an additional 470,651 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Wheaton Precious Metals during the first quarter worth $2,885,000. 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.