Brokerages Set Wheaton Precious Metals Corp. (NYSE:WPM) Price Target at $165.55

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $165.5455.

A number of research analysts have commented on WPM shares. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings downgraded Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Scotiabank dropped their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Royal Bank Of Canada reduced their price objective on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Finally, Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a report on Tuesday, July 28th.

Wheaton Precious Metals Price Performance

WPM opened at $163.66 on Wednesday. The company has a market capitalization of $74.33 billion, a P/E ratio of 36.29, a PEG ratio of 2.83 and a beta of 0.55. The company has a 50-day moving average of $120.62 and a 200-day moving average of $130.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. Wheaton Precious Metals has a 1-year low of $92.57 and a 1-year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. Equities analysts expect that Wheaton Precious Metals will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio is 17.29%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Groupe la Francaise grew its position in shares of Wheaton Precious Metals by 9.7% during the 2nd quarter. Groupe la Francaise now owns 305,000 shares of the company’s stock valued at $34,324,000 after buying an additional 26,975 shares during the last quarter. Ameritas Advisory Services LLC lifted its holdings in Wheaton Precious Metals by 79.2% in the second quarter. Ameritas Advisory Services LLC now owns 7,331 shares of the company’s stock worth $823,000 after acquiring an additional 3,241 shares during the last quarter. HB Wealth Management LLC boosted its stake in Wheaton Precious Metals by 20.2% in the second quarter. HB Wealth Management LLC now owns 6,674 shares of the company’s stock valued at $750,000 after acquiring an additional 1,120 shares during the period. Angeles Wealth Management LLC boosted its stake in Wheaton Precious Metals by 11.4% in the second quarter. Angeles Wealth Management LLC now owns 2,113 shares of the company’s stock valued at $237,000 after acquiring an additional 217 shares during the period. Finally, Syon Capital LLC grew its holdings in shares of Wheaton Precious Metals by 15.8% during the second quarter. Syon Capital LLC now owns 6,567 shares of the company’s stock valued at $738,000 after purchasing an additional 894 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.