Wheaton Precious Metals Corp. (NYSE:WPM) Receives $63.56 Consensus PT from Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has earned an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $63.56.

WPM has been the topic of a number of recent research reports. CIBC upped their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Berenberg Bank raised their price objective on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Scotiabank boosted their target price on shares of 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. Jefferies Financial Group raised their price target 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. Finally, TD Securities decreased their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 15th.

Wheaton Precious Metals Price Performance

WPM stock opened at $62.62 on Wednesday. The company has a market capitalization of $28.41 billion, a P/E ratio of 48.25, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $64.27. The firm’s fifty day simple moving average is $59.67 and its 200-day simple moving average is $54.56.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm’s quarterly revenue 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 forecast that Wheaton Precious Metals will post 1.4 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.99%. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. King Luther Capital Management Corp purchased a new position in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $6,154,000. Marketfield Asset Management LLC lifted its holdings in Wheaton Precious Metals by 61.0% in the 4th quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock valued at $4,343,000 after purchasing an additional 33,337 shares in the last quarter. Financial Sense Advisors Inc. boosted its stake in Wheaton Precious Metals by 54.0% during the 1st quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock worth $2,679,000 after purchasing an additional 19,924 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Wheaton Precious Metals during the first quarter worth $1,752,000. Finally, Alberta Investment Management Corp grew its holdings in shares of Wheaton Precious Metals by 0.8% during the fourth quarter. Alberta Investment Management Corp now owns 957,947 shares of the company’s stock worth $47,491,000 after buying an additional 7,610 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other 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.