Wheaton Precious Metals Corp. (NYSE:WPM) Given Consensus Rating of “Buy” by Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has been assigned an average rating of “Buy” from the ten brokerages that are currently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $71.67.

Several equities analysts recently issued reports on the stock. TD Securities boosted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. UBS Group assumed coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective on the stock. Raymond James upped their price objective 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. Finally, Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $69.48 on Friday. Wheaton Precious Metals has a 1 year low of $38.57 and a 1 year high of $69.66. The company’s 50-day moving average is $60.57 and its 200 day moving average is $61.32. The stock has a market capitalization of $31.52 billion, a P/E ratio of 51.85, a P/E/G ratio of 1.71 and a beta of 0.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fielder Capital Group LLC lifted its stake in shares of Wheaton Precious Metals by 0.7% in the fourth quarter. Fielder Capital Group LLC now owns 24,701 shares of the company’s stock worth $1,389,000 after buying an additional 176 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Wheaton Precious Metals by 1.5% in the fourth quarter. Signaturefd LLC now owns 11,877 shares of the company’s stock worth $668,000 after buying an additional 178 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of Wheaton Precious Metals by 3.9% in the fourth quarter. Merit Financial Group LLC now owns 4,818 shares of the company’s stock worth $271,000 after buying an additional 179 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in Wheaton Precious Metals by 2.2% during the third quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock valued at $522,000 after purchasing an additional 187 shares during the period. Finally, Principal Financial Group Inc. lifted its position 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 purchasing an additional 196 shares during the period. Institutional investors own 70.34% of the company’s stock.

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.