Wheaton Precious Metals (NYSE:WPM) Price Target Cut to $54.00

Wheaton Precious Metals (NYSE:WPM – Get Rating) had its target price decreased by TD Securities from $55.00 to $54.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

WPM has been the subject of several other reports. TheStreet raised shares of Wheaton Precious Metals from a c+ rating to a b- rating in a report on Tuesday, November 22nd. National Bank Financial reduced their price target on shares of Wheaton Precious Metals from C$70.00 to C$68.00 in a research note on Tuesday, February 14th. BMO Capital Markets reduced their price target on shares of Wheaton Precious Metals from $52.00 to $51.00 and set an outperform rating for the company in a research note on Friday, March 10th. Barclays lifted their price target on shares of Wheaton Precious Metals from $40.00 to $42.00 and gave the stock an equal weight rating in a research note on Monday, January 30th. Finally, Raymond James reduced their price target on shares of Wheaton Precious Metals from C$52.00 to C$51.00 and set an outperform rating for the company in a research note on Wednesday, February 22nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Wheaton Precious Metals has a consensus rating of Moderate Buy and an average price target of $54.38.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $45.30 on Wednesday. Wheaton Precious Metals has a 1 year low of $28.62 and a 1 year high of $51.90. The stock has a market cap of $20.49 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 7.61 and a beta of 0.55. The firm has a 50-day moving average of $43.18 and a 200 day moving average of $38.04.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last issued its quarterly earnings results on Friday, March 10th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Wheaton Precious Metals had a net margin of 62.83% and a return on equity of 7.76%. The business had revenue of $236.05 million for the quarter, compared to analysts’ expectations of $241.70 million. During the same period last year, the business earned $0.29 earnings per share. The company’s revenue was down 15.1% on a year-over-year basis. Research analysts expect that Wheaton Precious Metals will post 1.16 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Friday, March 24th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, March 23rd. This represents a $0.60 annualized dividend and a yield of 1.32%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 40.54%.

Institutional Trading of Wheaton Precious Metals

Several large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its position in Wheaton Precious Metals by 9.0% during the fourth quarter. Van ECK Associates Corp now owns 20,792,506 shares of the company’s stock valued at $812,564,000 after buying an additional 1,712,152 shares during the period. First Eagle Investment Management LLC grew its position in Wheaton Precious Metals by 4.3% during the fourth quarter. First Eagle Investment Management LLC now owns 20,234,007 shares of the company’s stock valued at $790,745,000 after buying an additional 831,221 shares during the period. Vanguard Group Inc. grew its position in Wheaton Precious Metals by 3.3% during the third quarter. Vanguard Group Inc. now owns 15,310,279 shares of the company’s stock valued at $495,440,000 after buying an additional 485,237 shares during the period. FMR LLC grew its position in Wheaton Precious Metals by 5.3% during the second quarter. FMR LLC now owns 14,161,430 shares of the company’s stock valued at $510,260,000 after buying an additional 707,233 shares during the period. Finally, Royal Bank of Canada grew its position in Wheaton Precious Metals by 4.8% during the third quarter. Royal Bank of Canada now owns 10,166,789 shares of the company’s stock valued at $328,999,000 after buying an additional 464,829 shares during the period. 57.01% of the stock is currently owned by institutional investors.

About Wheaton Precious Metals

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Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.