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

Wheaton Precious Metals Corp. (NYSE:WPM) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $106.1111.

Several research analysts have weighed in on the company. Scotiabank lifted their target price on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 12th. Raymond James Financial lifted their target price on Wheaton Precious Metals from $112.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. CIBC lifted their target price on Wheaton Precious Metals from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. Finally, UBS Group lifted their target price on Wheaton Precious Metals from $106.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, September 19th.

Institutional Trading of Wheaton Precious Metals

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Wheaton Precious Metals by 95.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,429 shares of the company’s stock valued at $160,000 after purchasing an additional 699 shares during the period. Corient Private Wealth LLC raised its stake in shares of Wheaton Precious Metals by 18.4% in the 2nd quarter. Corient Private Wealth LLC now owns 15,514 shares of the company’s stock valued at $1,393,000 after purchasing an additional 2,410 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at about $267,000. Newbridge Financial Services Group Inc. raised its stake in shares of Wheaton Precious Metals by 287.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,672 shares of the company’s stock valued at $150,000 after purchasing an additional 1,240 shares during the period. Finally, Advisory Services Network LLC raised its stake in shares of Wheaton Precious Metals by 35.5% in the 2nd quarter. Advisory Services Network LLC now owns 30,834 shares of the company’s stock valued at $2,822,000 after purchasing an additional 8,075 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 1.6%

NYSE:WPM opened at $109.71 on Friday. Wheaton Precious Metals has a 12-month low of $55.47 and a 12-month high of $114.00. The firm has a market capitalization of $49.80 billion, a P/E ratio of 63.41, a P/E/G ratio of 2.99 and a beta of 0.41. The stock’s fifty day simple moving average is $100.63 and its 200-day simple moving average is $90.02.

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

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.165 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 38.15%.

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.