Raymond James Boosts Wheaton Precious Metals (NYSE:WPM) Price Target to $75.00

Wheaton Precious Metals (NYSE:WPM) had its price objective raised by Raymond James from $74.00 to $75.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also issued reports about the stock. CIBC raised their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. TD Securities decreased their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 15th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Berenberg Bank boosted their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Jefferies Financial Group upped their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.25.

Wheaton Precious Metals Stock Up 0.5 %

Shares of WPM opened at $66.45 on Friday. The stock has a market cap of $30.14 billion, a P/E ratio of 51.12, a P/E/G ratio of 2.41 and a beta of 0.78. The business’s 50 day moving average price is $62.13 and its 200-day moving average price is $57.81. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last released its 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 business had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. During the same period in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that Wheaton Precious Metals will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is 47.69%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds and other institutional investors have recently made changes to their positions in WPM. AdvisorNet Financial Inc grew its position in Wheaton Precious Metals by 6.1% during the second quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after buying an additional 190 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Wheaton Precious Metals by 0.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock worth $2,110,000 after acquiring an additional 197 shares during the last quarter. Capital International Inc. CA boosted its stake in shares of Wheaton Precious Metals by 2.5% during the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock worth $392,000 after acquiring an additional 204 shares during the last quarter. Arkadios Wealth Advisors grew its position in shares of Wheaton Precious Metals by 1.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock valued at $1,318,000 after acquiring an additional 210 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Wheaton Precious Metals by 4.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,607 shares of the company’s stock worth $281,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

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.