Wheaton Precious Metals Corp. (NYSE:WPM) Receives $70.25 Consensus Target Price from Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $70.88.

Several analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. TD Securities upped their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday. Raymond James upped their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $61.02 on Thursday. The firm has a market capitalization of $27.68 billion, a price-to-earnings ratio of 45.54, a price-to-earnings-growth ratio of 2.37 and a beta of 0.77. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The stock’s fifty day moving average is $62.77 and its two-hundred day moving average is $58.71.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.91% and a net margin of 50.05%. The business had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period in the prior year, the business earned $0.27 earnings per share. As a group, sell-side analysts forecast that Wheaton Precious Metals will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be issued a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

Hedge Funds Weigh In On Wheaton Precious Metals

Large investors have recently modified their holdings of the company. Ridgewood Investments LLC purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter worth about $31,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at about $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at about $47,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at about $48,000. Finally, Western Pacific Wealth Management LP raised its holdings in shares of Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after buying an additional 218 shares during the period. 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.