Wheaton Precious Metals Corp. (NYSE:WPM) Receives Average Recommendation of “Moderate Buy” from Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $70.25.

Several research firms have recently weighed in on WPM. CIBC boosted their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Raymond James boosted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. 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. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, TD Securities decreased their price target on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th.

Hedge Funds Weigh In On Wheaton Precious Metals

Institutional investors have recently made changes to their positions in the stock. Quent Capital LLC raised its position in shares of Wheaton Precious Metals by 136.1% during the first quarter. Quent Capital LLC now owns 5,636 shares of the company’s stock worth $266,000 after purchasing an additional 3,249 shares during the period. Quantbot Technologies LP acquired a new position in Wheaton Precious Metals during the first quarter worth $499,000. Meixler Investment Management Ltd. lifted its stake in shares of Wheaton Precious Metals by 4.8% in the first quarter. Meixler Investment Management Ltd. now owns 11,138 shares of the company’s stock valued at $525,000 after buying an additional 510 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Wheaton Precious Metals by 403.6% during the first quarter. Oppenheimer & Co. Inc. now owns 70,823 shares of the company’s stock valued at $3,338,000 after buying an additional 56,759 shares during the last quarter. Finally, Forsta AP Fonden raised its holdings in shares of Wheaton Precious Metals by 11.1% in the 1st quarter. Forsta AP Fonden now owns 99,100 shares of the company’s stock worth $4,672,000 after acquiring an additional 9,900 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 4.3 %

NYSE:WPM opened at $62.75 on Thursday. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $68.64. The stock’s 50-day simple moving average is $62.67 and its 200 day simple moving average is $58.44. The firm has a market capitalization of $28.47 billion, a PE ratio of 49.80, a price-to-earnings-growth ratio of 2.37 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The company had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. During the same period last year, the company posted $0.31 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, analysts anticipate that Wheaton Precious Metals will post 1.44 EPS for the current fiscal year.

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.