Wheaton Precious Metals (NYSE:WPM) Coverage Initiated by Analysts at UBS Group

UBS Group began coverage on shares of Wheaton Precious Metals (NYSE:WPM) in a report released on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $78.00 price target on the stock. UBS Group’s target price suggests a potential upside of 28.71% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Raymond James raised their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. TD Securities raised their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group increased their target price 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. Finally, Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $60.60 on Monday. Wheaton Precious Metals has a 1 year low of $38.57 and a 1 year high of $68.64. The firm’s 50 day moving average price is $62.76 and its 200-day moving average price is $58.88. The stock has a market cap of $27.49 billion, a P/E ratio of 45.18, a PEG ratio of 2.14 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. The company had revenue of $308.25 million during the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same period in the prior year, the company earned $0.27 earnings per share. As a group, equities analysts expect that Wheaton Precious Metals will post 1.44 EPS for the current year.

Institutional Investors Weigh In On Wheaton Precious Metals

Large investors have recently added to or reduced their stakes in the stock. Insigneo Advisory Services LLC raised its stake in shares of Wheaton Precious Metals by 2.2% during the third quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock valued at $522,000 after acquiring an additional 187 shares in the last quarter. AdvisorNet Financial Inc raised its position in Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after purchasing an additional 190 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Wheaton Precious Metals by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock worth $1,208,000 after buying an additional 196 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of Wheaton Precious Metals by 0.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock worth $2,110,000 after buying an additional 197 shares during the period. Finally, Capital International Inc. CA grew its position in shares of Wheaton Precious Metals by 2.5% during the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock worth $392,000 after buying an additional 204 shares in the last quarter. 70.34% of the stock is 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.