Wheaton Precious Metals Corp. (NYSE:WPM) Receives $63.56 Average Target Price from Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $63.56.

Several brokerages have issued reports on WPM. Berenberg Bank increased their price objective 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. Bank of America lifted their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Jefferies Financial Group upped their price objective on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Scotiabank lifted their target price on 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, TD Securities lowered their price objective on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th.

Institutional Trading of Wheaton Precious Metals

Several institutional investors have recently added to or reduced their stakes in WPM. Sanctuary Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at about $713,000. Clearbridge Investments LLC lifted its holdings in Wheaton Precious Metals by 90.5% in the second quarter. Clearbridge Investments LLC now owns 1,344,131 shares of the company’s stock worth $70,461,000 after acquiring an additional 638,425 shares during the last quarter. Cetera Investment Advisers boosted its stake in Wheaton Precious Metals by 1.1% in the second quarter. Cetera Investment Advisers now owns 37,659 shares of the company’s stock valued at $1,974,000 after acquiring an additional 409 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $47,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Wheaton Precious Metals by 5.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 21,207 shares of the company’s stock worth $1,112,000 after purchasing an additional 1,158 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Up 0.6 %

Shares of Wheaton Precious Metals stock opened at $62.60 on Wednesday. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $64.27. The stock has a market cap of $28.39 billion, a price-to-earnings ratio of 48.15, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The company has a fifty day moving average price of $59.73 and a 200 day moving average price of $54.85.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. Analysts forecast that Wheaton Precious Metals will post 1.4 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 0.99%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 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.