Wheaton Precious Metals Corp. (NYSE:WPM) Receives $71.67 Average PT from Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $71.67.

Several analysts have weighed in on WPM shares. TD Securities boosted 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 note on Friday, November 8th. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. UBS Group assumed coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 price target on the stock. 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 research report on Friday, October 25th.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently modified their holdings of WPM. Abich Financial Wealth Management LLC bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth about $31,000. St. Johns Investment Management Company LLC bought a new stake in Wheaton Precious Metals during the third quarter worth approximately $48,000. Sunbelt Securities Inc. acquired a new stake in Wheaton Precious Metals in the second quarter worth approximately $47,000. Dunhill Financial LLC boosted its stake in Wheaton Precious Metals by 200.9% during the 3rd quarter. Dunhill Financial LLC now owns 1,050 shares of the company’s stock valued at $64,000 after purchasing an additional 701 shares in the last quarter. Finally, First Horizon Advisors Inc. acquired a new position in shares of Wheaton Precious Metals during the 3rd quarter valued at $67,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $57.06 on Friday. The stock has a market capitalization of $25.89 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 1.67 and a beta of 0.75. Wheaton Precious Metals has a one year low of $38.57 and a one year high of $68.64. The company’s 50-day simple moving average is $62.22 and its 200-day simple moving average is $60.02.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter last year, the business posted $0.27 EPS. As a group, research analysts forecast that Wheaton Precious Metals will post 1.44 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were paid a $0.155 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.09%. Wheaton Precious Metals’s payout ratio is 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.