Wheaton Precious Metals (NYSE:WPM) PT Raised to $72.00 at Scotiabank

Wheaton Precious Metals (NYSE:WPM) had its price objective hoisted by Scotiabank from $66.50 to $72.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 16.75% from the company’s previous close.

Several other research firms have also commented on WPM. Jefferies Financial Group lifted their price objective on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. TD Securities cut their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Bank of America raised their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. BMO Capital Markets boosted their target price on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Finally, CIBC increased their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $67.50.

Wheaton Precious Metals Stock Up 1.9 %

Wheaton Precious Metals stock opened at $61.67 on Monday. The company’s 50-day moving average price is $56.42 and its 200-day moving average price is $51.85. The company has a market cap of $27.98 billion, a PE ratio of 47.51, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $63.06.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. As a group, sell-side analysts expect that Wheaton Precious Metals will post 1.38 earnings per share for the current fiscal year.

Institutional Trading of Wheaton Precious Metals

Institutional investors and hedge funds have recently made changes to their positions in the company. First Eagle Investment Management LLC increased its position in Wheaton Precious Metals by 1.4% during the 1st quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock valued at $1,008,743,000 after purchasing an additional 292,968 shares during the period. Van ECK Associates Corp raised its stake in Wheaton Precious Metals by 9.9% in the fourth quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock worth $1,012,517,000 after buying an additional 1,856,031 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Wheaton Precious Metals by 1.7% during the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after buying an additional 272,918 shares during the period. FIL Ltd boosted its position in Wheaton Precious Metals by 5.5% during the 4th quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock valued at $525,235,000 after acquiring an additional 550,804 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $387,481,000. 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.