Brokerages Set Wheaton Precious Metals Corp. (NYSE:WPM) Price Target at $71.67

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $71.67.

WPM has been the topic of a number of research analyst reports. UBS Group initiated coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They set a “buy” rating and a $78.00 price objective on the stock. TD Securities upped their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their target price 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. Finally, Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in Wheaton Precious Metals by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after purchasing an additional 36,970 shares during the last quarter. Well Done LLC grew its stake in shares of Wheaton Precious Metals by 173.9% in the third quarter. Well Done LLC now owns 38,108 shares of the company’s stock worth $2,328,000 after acquiring an additional 24,196 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth about $1,016,000. Swiss National Bank increased its stake in Wheaton Precious Metals by 0.8% during the third quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock valued at $83,854,000 after acquiring an additional 10,600 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Wheaton Precious Metals in the third quarter valued at $1,287,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 0.1 %

Shares of Wheaton Precious Metals stock opened at $58.94 on Tuesday. The stock has a market cap of $26.74 billion, a price-to-earnings ratio of 43.98, a price-to-earnings-growth ratio of 1.30 and a beta of 0.76. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $68.64. The company has a fifty day moving average price of $59.44 and a 200 day moving average price of $60.53.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter in the previous year, the business posted $0.27 EPS. Analysts forecast that Wheaton Precious Metals will post 1.45 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 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.