Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $66.00 at Berenberg Bank

Wheaton Precious Metals (NYSE:WPM) had its price target upped by Berenberg Bank from $64.00 to $66.00 in a research note issued to investors on Thursday, BayStreet.CA reports. Berenberg Bank currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a buy rating in a research report on Monday, April 22nd. Scotiabank raised their price objective on Wheaton Precious Metals from $59.00 to $66.50 and gave the company an outperform rating in a research note on Thursday, May 23rd. CIBC boosted their target price on Wheaton Precious Metals from $70.00 to $75.00 and gave the company an outperform rating in a research report on Wednesday, May 22nd. TD Securities upgraded Wheaton Precious Metals from a hold rating to a buy rating and raised their price target for the stock from $51.00 to $53.00 in a research report on Monday, March 18th. Finally, BMO Capital Markets boosted their price objective on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an outperform rating in a research report on Tuesday, May 21st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $61.50.

Wheaton Precious Metals Trading Up 0.2 %

Shares of WPM stock opened at $52.98 on Thursday. The stock has a market capitalization of $24.03 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 1.93 and a beta of 0.78. Wheaton Precious Metals has a 12-month low of $38.37 and a 12-month high of $57.87. The stock’s 50-day moving average price is $54.24 and its 200-day moving average price is $49.35.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The business had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $278.95 million. During the same period in the prior year, the firm earned $0.23 EPS. The company’s revenue for the quarter was up 38.7% on a year-over-year basis. As a group, research analysts predict that Wheaton Precious Metals will post 1.28 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were given a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.62 annualized dividend and a yield of 1.17%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors have recently modified their holdings of WPM. Capital International Inc. CA grew its stake in Wheaton Precious Metals by 2.5% in the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock worth $392,000 after purchasing an additional 204 shares in the last quarter. Western Pacific Wealth Management LP increased its stake in shares of Wheaton Precious Metals by 19.6% during the first 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. Brookstone Capital Management raised its holdings in shares of Wheaton Precious Metals by 5.3% in the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock valued at $225,000 after acquiring an additional 240 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Wheaton Precious Metals by 30.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock worth $57,000 after acquiring an additional 273 shares during the period. Finally, Bank of Nova Scotia Trust Co. grew its holdings in Wheaton Precious Metals by 2.1% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 13,935 shares of the company’s stock worth $657,000 after acquiring an additional 289 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.