Wheaton Precious Metals (NYSE:WPM) PT Raised to $66.00 at Berenberg Bank

Wheaton Precious Metals (NYSE:WPM) had its price target hoisted by Berenberg Bank from $64.00 to $66.00 in a research report report published on Thursday morning, BayStreet.CA reports. Berenberg Bank currently has a buy rating on the stock.

A number of other brokerages have also recently commented on WPM. BMO Capital Markets raised their price target on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an outperform rating in a research report on Tuesday, May 21st. Jefferies Financial Group raised their price target on Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a buy rating in a research report on Monday, April 22nd. Bank of America raised their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. TD Securities upgraded Wheaton Precious Metals from a hold rating to a buy rating and raised their price target for the stock from $51.00 to $53.00 in a research report on Monday, March 18th. Finally, CIBC raised their price target on Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an outperform rating in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $61.50.

Wheaton Precious Metals Stock Performance

WPM opened at $52.42 on Thursday. Wheaton Precious Metals has a fifty-two week low of $38.37 and a fifty-two week high of $57.87. The company has a market capitalization of $23.77 billion, a P/E ratio of 40.32, a P/E/G ratio of 1.83 and a beta of 0.78. The stock has a fifty day moving average of $54.23 and a 200-day moving average of $49.41.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The company had revenue of $296.80 million during the quarter, compared to the consensus estimate of $278.95 million. During the same quarter last year, the firm earned $0.23 earnings per share. The company’s revenue was up 38.7% on a year-over-year basis. On average, equities research analysts predict that Wheaton Precious Metals will post 1.29 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 47.69%.

Institutional Trading of Wheaton Precious Metals

Several hedge funds and other institutional investors have recently made changes to their positions in WPM. CVA Family Office LLC acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth approximately $26,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth approximately $31,000. Principal Securities Inc. acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth approximately $39,000. Fifth Third Bancorp lifted its stake in shares of Wheaton Precious Metals by 230.7% in the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after acquiring an additional 602 shares during the period. Finally, St. Johns Investment Management Company LLC acquired a new position in shares of Wheaton Precious Metals in the first quarter worth approximately $52,000. 70.34% of the stock is currently 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.