Wheaton Precious Metals Corp. (NYSE:WPM) Receives Consensus Rating of “Buy” from Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have received an average recommendation of “Buy” from the ten ratings firms that are covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $71.67.

Several research firms have weighed in on WPM. UBS Group began coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 price target on the stock. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th.

Hedge Funds Weigh In On Wheaton Precious Metals

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE lifted its stake in Wheaton Precious Metals by 4.2% in the 3rd quarter. US Bancorp DE now owns 7,167 shares of the company’s stock worth $438,000 after purchasing an additional 290 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Wheaton Precious Metals by 31.0% in the third quarter. Farther Finance Advisors LLC now owns 1,825 shares of the company’s stock worth $111,000 after purchasing an additional 432 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Wheaton Precious Metals by 3.5% in the third quarter. Janney Montgomery Scott LLC now owns 37,639 shares of the company’s stock worth $2,299,000 after buying an additional 1,273 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Wheaton Precious Metals by 1.0% during the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock valued at $1,208,000 after buying an additional 196 shares during the last quarter. Finally, Tyler Stone Wealth Management grew its holdings in Wheaton Precious Metals by 100.3% during the 3rd quarter. Tyler Stone Wealth Management now owns 4,253 shares of the company’s stock valued at $260,000 after buying an additional 2,130 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $71.16 on Wednesday. Wheaton Precious Metals has a one year low of $43.18 and a one year high of $72.00. The stock has a fifty day moving average of $63.80 and a 200 day moving average of $62.47. The stock has a market cap of $32.28 billion, a PE ratio of 53.10, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77.

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.