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

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been assigned a consensus recommendation of “Buy” from the ten research firms that are covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $71.67.

A number of equities analysts have commented on the stock. 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 upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. UBS Group began coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They set a “buy” rating and a $78.00 price target on the stock. Finally, TD Securities boosted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 8th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in Wheaton Precious Metals by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after purchasing an additional 36,970 shares during the last quarter. Well Done LLC raised its stake in Wheaton Precious Metals by 173.9% in the 3rd quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after purchasing an additional 24,196 shares during the last quarter. Swiss National Bank raised its stake in Wheaton Precious Metals by 0.8% in the 3rd quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock valued at $83,854,000 after purchasing an additional 10,600 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Wheaton Precious Metals in the 3rd quarter valued at $1,287,000. Finally, CWA Asset Management Group LLC raised its stake in Wheaton Precious Metals by 19.7% in the 4th quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock valued at $9,196,000 after purchasing an additional 26,924 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

WPM stock opened at $67.58 on Friday. The company has a market capitalization of $30.66 billion, a P/E ratio of 50.44, a PEG ratio of 1.70 and a beta of 0.77. The business has a 50-day moving average price of $60.22 and a 200 day moving average price of $61.10. Wheaton Precious Metals has a 1-year low of $38.57 and a 1-year high of $69.58.

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.