Wheaton Precious Metals (NYSE:WPM) Earns “Buy (B-)” Rating from Weiss Ratings

Wheaton Precious Metals (NYSE:WPM)‘s stock had its “buy (b-)” rating reiterated by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other analysts have also recently weighed in on WPM. UBS Group raised their price objective on Wheaton Precious Metals from $106.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. BMO Capital Markets reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Scotiabank raised their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 12th. Finally, Berenberg Bank raised their price objective on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.75.

Wheaton Precious Metals Trading Down 3.6%

Shares of NYSE:WPM opened at $103.39 on Wednesday. Wheaton Precious Metals has a 12-month low of $55.47 and a 12-month high of $114.00. The business’s fifty day simple moving average is $102.17 and its 200-day simple moving average is $91.14. The company has a market capitalization of $46.93 billion, a PE ratio of 59.76, a P/E/G ratio of 2.86 and a beta of 0.41.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same period last year, the business posted $0.33 EPS. The business’s revenue was up 68.2% compared to the same quarter last year. Research analysts predict that Wheaton Precious Metals will post 1.46 EPS for the current year.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPM. Bulwark Capital Corp acquired a new stake in Wheaton Precious Metals during the 2nd quarter worth about $27,000. Delta Asset Management LLC TN acquired a new stake in Wheaton Precious Metals during the 2nd quarter worth about $27,000. NBT Bank N A NY lifted its position in Wheaton Precious Metals by 129.3% during the 1st quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after acquiring an additional 234 shares during the period. Wealth Preservation Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the 1st quarter valued at about $38,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Wheaton Precious Metals in the 1st quarter valued at about $49,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Company Profile

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.