Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $75.00

Wheaton Precious Metals (NYSE:WPM) had its target price lifted by TD Securities from $74.00 to $75.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently commented on the company. Jefferies Financial Group boosted their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Raymond James boosted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Scotiabank boosted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.88.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM traded up $0.41 during midday trading on Friday, hitting $64.82. The company’s stock had a trading volume of 2,440,415 shares, compared to its average volume of 1,775,140. Wheaton Precious Metals has a 12-month low of $38.57 and a 12-month high of $68.64. The business’s 50 day simple moving average is $62.79 and its 200 day simple moving average is $58.57. The company has a market cap of $29.40 billion, a P/E ratio of 51.50, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results 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 business had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. On average, sell-side analysts predict that Wheaton Precious Metals will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 49.21%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WPM. Quent Capital LLC boosted its stake in Wheaton Precious Metals by 136.1% during the first quarter. Quent Capital LLC now owns 5,636 shares of the company’s stock worth $266,000 after acquiring an additional 3,249 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Wheaton Precious Metals during the 1st quarter valued at approximately $499,000. Oppenheimer & Co. Inc. boosted its stake in shares of Wheaton Precious Metals by 403.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 70,823 shares of the company’s stock worth $3,338,000 after purchasing an additional 56,759 shares during the period. Forsta AP Fonden lifted its position in shares of Wheaton Precious Metals by 11.1% in the 1st quarter. Forsta AP Fonden now owns 99,100 shares of the company’s stock worth $4,672,000 after purchasing an additional 9,900 shares during the period. Finally, Verus Capital Partners LLC boosted its position in Wheaton Precious Metals by 4.7% during the first quarter. Verus Capital Partners LLC now owns 18,950 shares of the company’s stock valued at $893,000 after purchasing an additional 850 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

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.