Wheaton Precious Metals Corp. (NYSE:WPM) Receives $71.67 Consensus Target Price from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $71.67.

A number of research analysts have commented on the company. 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 report on Friday, November 8th. Jefferies Financial Group upped 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. UBS Group began coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. Raymond James boosted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $58.07 on Friday. The stock has a market cap of $26.34 billion, a PE ratio of 43.34, a P/E/G ratio of 1.67 and a beta of 0.75. The firm has a 50-day moving average of $61.36 and a 200-day moving average of $60.07. Wheaton Precious Metals has a 52-week low of $38.57 and a 52-week high of $68.64.

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, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. During the same period last year, the business posted $0.27 earnings per share. As a group, analysts predict that Wheaton Precious Metals will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors have recently modified their holdings of WPM. Ameritas Advisory Services LLC raised its stake in Wheaton Precious Metals by 12.8% during the second quarter. Ameritas Advisory Services LLC now owns 8,998 shares of the company’s stock worth $472,000 after acquiring an additional 1,021 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Wheaton Precious Metals by 6.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 222,086 shares of the company’s stock worth $11,642,000 after purchasing an additional 13,331 shares in the last quarter. Intact Investment Management Inc. bought a new position in Wheaton Precious Metals in the 2nd quarter valued at approximately $4,674,000. Cadinha & Co. LLC acquired a new stake in Wheaton Precious Metals in the second quarter valued at approximately $14,979,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Wheaton Precious Metals by 15.3% during the second quarter. Commonwealth Equity Services LLC now owns 104,885 shares of the company’s stock worth $5,498,000 after buying an additional 13,925 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

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.