Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $128.00

Wheaton Precious Metals (NYSE:WPM) had its target price boosted by Scotiabank from $109.00 to $128.00 in a research report report published on Thursday morning, Marketbeat reports. They currently have a sector outperform rating on the stock.

WPM has been the subject of a number of other reports. Bank of America increased their price objective on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, October 16th. BMO Capital Markets reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. CIBC lifted their price objective on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Wheaton Precious Metals in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Wheaton Precious Metals Trading Down 0.1%

Shares of Wheaton Precious Metals stock opened at $98.09 on Thursday. The firm’s 50 day moving average is $103.84 and its 200 day moving average is $93.49. The firm has a market capitalization of $44.53 billion, a PE ratio of 56.70, a price-to-earnings-growth ratio of 1.76 and a beta of 0.41. Wheaton Precious Metals has a 1 year low of $55.47 and a 1 year high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. During the same period last year, the company earned $0.33 earnings per share. The business’s quarterly revenue was up 68.2% on a year-over-year basis. As a group, research analysts anticipate that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals’s payout ratio is presently 38.15%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of hedge funds have recently bought and sold shares of WPM. Global Assets Advisory LLC purchased a new position in Wheaton Precious Metals during the first quarter worth about $622,000. Spire Wealth Management increased its position in shares of Wheaton Precious Metals by 56.4% during the 1st quarter. Spire Wealth Management now owns 8,877 shares of the company’s stock valued at $689,000 after purchasing an additional 3,200 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in Wheaton Precious Metals by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 2,200 shares of the company’s stock worth $171,000 after buying an additional 1,100 shares during the last quarter. Value Partners Investments Inc. increased its holdings in Wheaton Precious Metals by 25.1% during the first quarter. Value Partners Investments Inc. now owns 14,732 shares of the company’s stock worth $1,144,000 after buying an additional 2,952 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Wheaton Precious Metals by 5.8% during the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company’s stock worth $419,000 after buying an additional 297 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

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.