Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $61.00 at Jefferies Financial Group

Wheaton Precious Metals (NYSE:WPM) had its price target lifted by Jefferies Financial Group from $52.00 to $61.00 in a research note released on Monday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on the stock. TD Securities upgraded shares of Wheaton Precious Metals from a hold rating to a buy rating and upped their price target for the company from $51.00 to $53.00 in a report on Monday, March 18th. BMO Capital Markets decreased their price target on Wheaton Precious Metals from $61.00 to $59.00 and set an outperform rating for the company in a research note on Wednesday, February 21st. Berenberg Bank increased their target price on Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a buy rating in a research note on Wednesday, March 27th. CIBC upped their target price on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Finally, National Bank Financial downgraded shares of Wheaton Precious Metals from an outperform rating to a sector perform rating in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $59.32.

Wheaton Precious Metals Stock Down 2.1 %

Wheaton Precious Metals stock opened at $51.53 on Monday. The company’s 50-day moving average price is $45.98 and its 200-day moving average price is $46.15. The company has a market cap of $23.36 billion, a PE ratio of 43.30, a price-to-earnings-growth ratio of 7.23 and a beta of 0.77. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $54.30.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, March 14th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. The business had revenue of $313.47 million during the quarter, compared to analyst estimates of $284.29 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. As a group, sell-side analysts expect that Wheaton Precious Metals will post 1.24 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were given a dividend of $0.155 per share. The ex-dividend date was Tuesday, April 2nd. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 1.20%. Wheaton Precious Metals’s payout ratio is currently 52.10%.

Institutional Investors Weigh In On Wheaton Precious Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter worth about $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Wheaton Precious Metals in the 4th quarter worth approximately $31,000. Mechanics Financial Corp grew its stake in shares of Wheaton Precious Metals by 200.0% during the 3rd quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock worth $36,000 after purchasing an additional 600 shares during the period. Principal Securities Inc. acquired a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $39,000. Finally, Fifth Third Bancorp raised its stake in shares of Wheaton Precious Metals by 230.7% during the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after buying an additional 602 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

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.