Wheaton Precious Metals Corp. (NYSE:WPM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been given a consensus rating of “Moderate Buy” by the ten analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $71.67.

A number of equities research analysts have weighed in on WPM shares. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. TD Securities boosted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Raymond James upped their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Scotiabank boosted their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $62.33 on Monday. The stock has a market capitalization of $28.28 billion, a PE ratio of 46.51, a P/E/G ratio of 1.75 and a beta of 0.77. Wheaton Precious Metals has a 1-year low of $38.57 and a 1-year high of $68.64. The business has a 50 day simple moving average of $62.99 and a two-hundred day simple moving average of $59.41.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (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 firm had revenue of $308.25 million during the quarter, compared to analyst estimates of $324.57 million. During the same period last year, the company earned $0.27 EPS. On average, analysts anticipate that Wheaton Precious Metals will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be given a $0.155 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 0.99%. Wheaton Precious Metals’s payout ratio is 46.27%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its holdings in Wheaton Precious Metals by 1.0% in the second quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock valued at $1,047,621,000 after purchasing an additional 197,426 shares during the period. FMR LLC increased its position in Wheaton Precious Metals by 33.7% in the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after acquiring an additional 3,692,594 shares during the period. TD Asset Management Inc increased its position in Wheaton Precious Metals by 22.5% in the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock valued at $311,920,000 after acquiring an additional 1,092,480 shares during the period. Cibc World Market Inc. increased its position in Wheaton Precious Metals by 3.1% during the 2nd quarter. Cibc World Market Inc. now owns 3,574,648 shares of the company’s stock worth $187,490,000 after purchasing an additional 108,976 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Wheaton Precious Metals by 22.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock worth $211,207,000 after acquiring an additional 634,843 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

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.