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

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

A number of brokerages recently issued reports on WPM. Raymond James increased their target price on 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 cut 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 Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group boosted their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th.

Institutional Trading of Wheaton Precious Metals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Insigneo Advisory Services LLC grew its stake in Wheaton Precious Metals by 2.2% in the third quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock worth $522,000 after purchasing an additional 187 shares during the period. AdvisorNet Financial Inc lifted its holdings in Wheaton Precious Metals by 6.1% in the second quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after acquiring an additional 190 shares during the period. Principal Financial Group Inc. lifted its holdings in Wheaton Precious Metals by 1.0% in the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock valued at $1,208,000 after acquiring an additional 196 shares during the period. Vontobel Holding Ltd. lifted its holdings in Wheaton Precious Metals by 0.6% in the third quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock valued at $2,110,000 after acquiring an additional 197 shares during the period. Finally, Arkadios Wealth Advisors raised its stake in shares of Wheaton Precious Metals by 1.0% in the third quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock worth $1,318,000 after buying an additional 210 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $62.33 on Monday. The company has a market capitalization of $28.28 billion, a PE ratio of 46.51, a P/E/G ratio of 1.75 and a beta of 0.77. The company has a 50 day simple moving average of $62.99 and a two-hundred day simple moving average of $59.41. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter last year, the firm posted $0.27 EPS. Research analysts predict that Wheaton Precious Metals will post 1.44 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 0.99%. Wheaton Precious Metals’s payout ratio is currently 46.27%.

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.