UBS Group Begins Coverage on Wheaton Precious Metals (NYSE:WPM)

Equities research analysts at UBS Group started coverage on shares of Wheaton Precious Metals (NYSE:WPM) in a note issued to investors on Monday, MarketBeat reports. The firm set a “buy” rating and a $78.00 price target on the stock. UBS Group’s price target suggests a potential upside of 24.60% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Jefferies Financial Group raised their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Raymond James boosted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Trading Up 2.8 %

Shares of NYSE WPM opened at $62.60 on Monday. The stock has a market cap of $28.40 billion, a P/E ratio of 46.72, a P/E/G ratio of 2.14 and a beta of 0.77. The stock has a 50 day moving average of $62.87 and a two-hundred day moving average of $59.00. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data 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 last year, the firm earned $0.27 EPS. As a group, research analysts predict that Wheaton Precious Metals will post 1.44 earnings per share for the current year.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank increased its position in Wheaton Precious Metals by 58.2% during the third quarter. Toronto Dominion Bank now owns 876,342 shares of the company’s stock worth $53,527,000 after purchasing an additional 322,339 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Wheaton Precious Metals by 5.9% in the third quarter. Geode Capital Management LLC now owns 2,002,629 shares of the company’s stock valued at $121,939,000 after acquiring an additional 111,769 shares during the last quarter. Barclays PLC grew its position in Wheaton Precious Metals by 9.9% during the third quarter. Barclays PLC now owns 315,914 shares of the company’s stock valued at $19,297,000 after acquiring an additional 28,485 shares during the period. Continuum Advisory LLC increased its stake in Wheaton Precious Metals by 585.2% during the third quarter. Continuum Advisory LLC now owns 1,672 shares of the company’s stock worth $99,000 after acquiring an additional 1,428 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Wheaton Precious Metals during the 3rd quarter worth approximately $2,337,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

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.