Brokerages Set Wheaton Precious Metals Corp. (NYSE:WPM) Price Target at $70.25

Wheaton Precious Metals Corp. (NYSE:WPM) has been given an average recommendation of “Moderate Buy” by the nine analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $70.88.

A number of research analysts have commented on WPM shares. TD Securities upped their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Scotiabank raised their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, Raymond James boosted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc grew its holdings in Wheaton Precious Metals by 71.2% during the 1st quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock worth $229,026,000 after acquiring an additional 2,019,722 shares in the last quarter. Canoe Financial LP purchased a new position in Wheaton Precious Metals in the third quarter valued at $113,017,000. AMF Tjanstepension AB lifted its holdings in Wheaton Precious Metals by 593.5% during the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock worth $84,388,000 after buying an additional 1,376,231 shares during the last quarter. Barings LLC acquired a new position in shares of Wheaton Precious Metals during the 2nd quarter worth about $65,405,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Wheaton Precious Metals by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock valued at $344,483,000 after acquiring an additional 1,010,307 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Up 0.6 %

Shares of WPM opened at $64.82 on Thursday. The firm has a 50-day moving average price of $62.79 and a 200 day moving average price of $58.62. Wheaton Precious Metals has a 12-month low of $38.57 and a 12-month high of $68.64. The firm has a market capitalization of $29.40 billion, a P/E ratio of 48.37, a P/E/G ratio of 2.29 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business 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 business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. Equities research analysts predict that Wheaton Precious Metals will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is presently 46.27%.

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.