Wheaton Precious Metals Corp. (NYSE:WPM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $71.67.

Several research analysts have issued reports on the company. Raymond James boosted their target price 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 note on Thursday, October 10th. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. UBS Group started coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. Finally, TD Securities raised their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

Institutional Trading of Wheaton Precious Metals

Several hedge funds have recently modified their holdings of the company. Versant Capital Management Inc purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at $29,000. Abich Financial Wealth Management LLC purchased a new stake in Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. Laurel Wealth Advisors LLC acquired a new position in Wheaton Precious Metals during the 4th quarter valued at approximately $39,000. GAMMA Investing LLC acquired a new position in Wheaton Precious Metals during the 4th quarter valued at approximately $41,000. Finally, St. Johns Investment Management Company LLC purchased a new position in shares of Wheaton Precious Metals in the third quarter worth $48,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Down 1.3 %

WPM stock opened at $59.25 on Tuesday. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64. The firm has a market capitalization of $26.88 billion, a P/E ratio of 44.21, a price-to-earnings-growth ratio of 1.29 and a beta of 0.76. The company has a fifty day simple moving average of $59.43 and a two-hundred day simple moving average of $60.60.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, analysts anticipate that Wheaton Precious Metals will post 1.45 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Thursday, November 21st. Wheaton Precious Metals’s payout ratio is 46.27%.

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.