Wheaton Precious Metals Corp. (NYSE:WPM) Receives Average Recommendation of “Buy” from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM) has been given a consensus rating of “Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $69.88.

Several equities analysts have recently weighed in on the company. CIBC boosted their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Raymond James boosted their price objective on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Jefferies Financial Group raised their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Berenberg Bank raised their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc lifted its holdings in shares of Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after purchasing an additional 190 shares during the last quarter. Capital International Inc. CA raised its stake in shares of Wheaton Precious Metals by 2.5% in the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock worth $392,000 after purchasing an additional 204 shares during the last quarter. Western Pacific Wealth Management LP raised its stake in shares of Wheaton Precious Metals by 19.6% in the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after purchasing an additional 218 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of Wheaton Precious Metals by 5.3% during the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock worth $225,000 after purchasing an additional 240 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its position in Wheaton Precious Metals by 25.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after buying an additional 253 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 0.4 %

Shares of NYSE:WPM opened at $60.71 on Friday. The firm has a fifty day simple moving average of $60.27 and a two-hundred day simple moving average of $56.54. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $64.82. The stock has a market capitalization of $27.53 billion, a P/E ratio of 46.70, a PEG ratio of 2.15 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The company had revenue of $299.06 million during the quarter, compared to analyst estimates of $309.54 million. During the same quarter last year, the business posted $0.31 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. On average, analysts expect that Wheaton Precious Metals will post 1.42 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is 47.69%.

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.