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

Wheaton Precious Metals (NYSE:WPM - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Monday.

A number of other equities research analysts also recently weighed in on the company. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. UBS Group lifted their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a report on Friday, April 11th. Raymond James lifted their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Royal Bank of Canada boosted their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a report on Friday, April 4th. Finally, CIBC boosted their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $85.90.

Wheaton Precious Metals Trading Down 7.9%

WPM traded down $6.78 on Monday, hitting $78.99. 2,897,460 shares of the stock traded hands, compared to its average volume of 1,664,183. The business has a fifty day moving average price of $78.08 and a two-hundred day moving average price of $67.83. The firm has a market capitalization of $35.85 billion, a PE ratio of 58.94, a P/E/G ratio of 1.91 and a beta of 0.49. Wheaton Precious Metals has a 52 week low of $51.96 and a 52 week high of $87.42.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. The company 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 company's quarterly revenue was up 58.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. On average, equities research analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. AGF Management Ltd. lifted its stake in shares of Wheaton Precious Metals by 13.9% in the 1st quarter. AGF Management Ltd. now owns 135,856 shares of the company's stock valued at $10,542,000 after purchasing an additional 16,550 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Wheaton Precious Metals by 0.7% in the 1st quarter. Public Sector Pension Investment Board now owns 43,820 shares of the company's stock valued at $3,400,000 after purchasing an additional 300 shares during the period. Eagle Global Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the 1st quarter valued at $226,000. Nuveen LLC acquired a new position in shares of Wheaton Precious Metals in the 1st quarter valued at $36,885,000. Finally, King Luther Capital Management Corp lifted its stake in shares of Wheaton Precious Metals by 0.4% in the 1st quarter. King Luther Capital Management Corp now owns 1,531,117 shares of the company's stock valued at $118,861,000 after purchasing an additional 5,500 shares during the period. 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.

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