Wheaton Precious Metals (NYSE:WPM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Wheaton Precious Metals (NYSE:WPM) from a hold rating to a buy rating in a report published on Saturday morning.

Several other research firms have also recently commented on WPM. CIBC reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. UBS Group set a $106.00 price objective on shares of Wheaton Precious Metals and gave the company a “neutral” rating in a research report on Monday, August 11th. Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 12th. Berenberg Bank boosted their price objective on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Wheaton Precious Metals Stock Down 0.0%

Shares of NYSE WPM opened at $95.55 on Friday. The company’s fifty day moving average is $92.42 and its 200-day moving average is $83.37. The stock has a market cap of $43.37 billion, a price-to-earnings ratio of 55.23, a P/E/G ratio of 2.65 and a beta of 0.39. Wheaton Precious Metals has a twelve month low of $55.47 and a twelve month high of $103.81.

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

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 21st. Wheaton Precious Metals’s payout ratio is presently 38.15%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. acquired a new stake in Wheaton Precious Metals in the 2nd quarter valued at $267,000. Newbridge Financial Services Group Inc. increased its stake in 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 buying an additional 1,240 shares during the last quarter. Advisory Services Network LLC increased its stake in 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 buying an additional 8,075 shares during the last quarter. State of Wyoming acquired a new position in shares of Wheaton Precious Metals during the 2nd quarter worth about $782,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Wheaton Precious Metals during the 2nd quarter worth about $25,952,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.