TD Securities Issues Positive Forecast for Wheaton Precious Metals (NYSE:WPM) Stock Price

Wheaton Precious Metals (NYSE:WPM) had its target price increased by TD Securities from $74.00 to $75.00 in a research report released on Friday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

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

Wheaton Precious Metals Price Performance

Shares of WPM opened at $61.02 on Friday. The company has a market capitalization of $27.68 billion, a price-to-earnings ratio of 45.54, a P/E/G ratio of 2.37 and a beta of 0.77. The business’s 50-day moving average is $62.77 and its 200-day moving average is $58.71. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.91%. The company had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the prior year, the firm earned $0.27 EPS. Equities research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be issued a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.02%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

Institutional Trading of Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in shares of Wheaton Precious Metals by 8.5% in the first quarter. Russell Investments Group Ltd. now owns 878,049 shares of the company’s stock worth $41,227,000 after acquiring an additional 68,755 shares during the last quarter. SageView Advisory Group LLC bought a new position in shares of Wheaton Precious Metals during the 1st quarter worth about $770,000. Well Done LLC raised its position in shares of Wheaton Precious Metals by 173.9% during the third quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after buying an additional 24,196 shares during the last quarter. Forge First Asset Management Inc. bought a new stake in shares of Wheaton Precious Metals in the first quarter valued at about $4,817,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in Wheaton Precious Metals during the second quarter worth about $1,016,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

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.