Wheaton Precious Metals Corp. (NYSE:WPM) Given Average Rating of “Buy” by Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has received a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $69.88.

Several equities analysts have issued reports on WPM shares. Scotiabank boosted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. CIBC raised their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group lifted their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. 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 research report on Thursday, August 15th. Finally, National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th.

Institutional Trading of Wheaton Precious Metals

Institutional investors and hedge funds have recently modified their holdings of the stock. First Eagle Investment Management LLC grew its holdings in Wheaton Precious Metals by 1.4% during the first quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock worth $1,008,743,000 after buying an additional 292,968 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Wheaton Precious Metals by 1.0% during the 2nd quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock worth $1,047,621,000 after acquiring an additional 197,426 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Wheaton Precious Metals by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock valued at $790,392,000 after purchasing an additional 272,918 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Wheaton Precious Metals by 16.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock valued at $344,483,000 after purchasing an additional 1,010,307 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in Wheaton Precious Metals by 22.5% during the second quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock worth $311,920,000 after purchasing an additional 1,092,480 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $66.49 on Friday. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $66.75. The firm’s fifty day moving average is $61.09 and its 200-day moving average is $57.03. The firm has a market cap of $30.16 billion, a P/E ratio of 52.77, a P/E/G ratio of 2.18 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm 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 business’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business posted $0.31 EPS. As a group, sell-side analysts anticipate that Wheaton Precious Metals will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.93%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 49.21%.

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.