Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $77.00

Wheaton Precious Metals (NYSE:WPM) had its price objective increased by stock analysts at Jefferies Financial Group from $67.00 to $77.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 27.84% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. CIBC upped their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Bank of America upped their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. TD Securities cut their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Scotiabank boosted their price objective on shares of 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, Berenberg Bank increased their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus target price of $69.88.

Wheaton Precious Metals Trading Down 0.8 %

NYSE:WPM traded down $0.46 during mid-day trading on Friday, hitting $60.23. The stock had a trading volume of 846,048 shares, compared to its average volume of 1,774,111. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $64.82. The company has a market capitalization of $27.32 billion, a PE ratio of 46.35, a PEG ratio of 2.27 and a beta of 0.78. The stock has a 50-day simple moving average of $60.09 and a two-hundred day simple moving average of $55.81.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. Sell-side analysts predict that Wheaton Precious Metals will post 1.42 EPS for the current fiscal year.

Institutional Trading of Wheaton Precious Metals

A number of hedge funds have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC purchased a new stake in shares of Wheaton Precious Metals during the second quarter worth approximately $31,000. Abich Financial Wealth Management LLC purchased a new position in Wheaton Precious Metals during the 2nd quarter worth $31,000. Sunbelt Securities Inc. acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth $47,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Wheaton Precious Metals in the first quarter valued at about $52,000. Finally, Western Pacific Wealth Management LP increased its stake in shares of Wheaton Precious Metals by 19.6% during the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after acquiring an additional 218 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

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.