Wheaton Precious Metals Corp. (NYSE:WPM) Receives $61.06 Consensus Target Price from Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $61.06.

Several analysts have recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 12th. CIBC boosted their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Bank of America increased their target price 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. Scotiabank boosted their price target on Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Finally, BMO Capital Markets increased their price objective on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $57.67 on Tuesday. The stock has a market cap of $26.16 billion, a P/E ratio of 44.36, a P/E/G ratio of 2.18 and a beta of 0.76. The stock’s fifty day moving average is $56.02 and its 200 day moving average is $51.04. Wheaton Precious Metals has a one year low of $38.37 and a one year high of $63.06.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. During the same period in the previous year, the firm earned $0.23 EPS. The business’s quarterly revenue was up 38.7% on a year-over-year basis. Analysts predict that Wheaton Precious Metals will post 1.38 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Hedge Funds Weigh In On Wheaton Precious Metals

Several institutional investors have recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at about $31,000. Principal Securities Inc. purchased a new position in shares of Wheaton Precious Metals in the 4th quarter worth approximately $39,000. Fifth Third Bancorp increased its position in shares of Wheaton Precious Metals by 230.7% during the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after purchasing an additional 602 shares during the last quarter. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the 1st quarter valued at $52,000. Finally, Western Pacific Wealth Management LP lifted its position in Wheaton Precious Metals by 47.6% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock worth $55,000 after buying an additional 359 shares during the last quarter. Institutional investors 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.