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

Wheaton Precious Metals Corp. (NYSE:WPM) has been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $71.67.

WPM has been the topic of a number of recent research reports. UBS Group initiated coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 target price on the stock. Raymond James upped their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, TD Securities lifted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds have recently modified their holdings of the stock. Insigneo Advisory Services LLC lifted its holdings in Wheaton Precious Metals by 2.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock worth $522,000 after buying an additional 187 shares in the last quarter. Principal Financial Group Inc. boosted 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 purchasing an additional 196 shares during the last quarter. Vontobel Holding Ltd. grew its stake in Wheaton Precious Metals by 0.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock valued at $2,110,000 after purchasing an additional 197 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in Wheaton Precious Metals by 1.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock worth $1,318,000 after purchasing an additional 210 shares during the last quarter. Finally, Western Pacific Wealth Management LP raised its position in shares of Wheaton Precious Metals by 13.9% in the 3rd quarter. Western Pacific Wealth Management LP now owns 1,732 shares of the company’s stock valued at $106,000 after purchasing an additional 212 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $57.40 on Friday. Wheaton Precious Metals has a 1 year low of $38.57 and a 1 year high of $68.64. The business has a 50 day moving average price of $62.41 and a 200 day moving average price of $59.95. The company has a market capitalization of $26.04 billion, a P/E ratio of 42.84, a P/E/G ratio of 1.67 and a beta of 0.75.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $308.25 million during the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.27 earnings per share. As a group, research analysts expect that Wheaton Precious Metals will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is presently 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.