Wheaton Precious Metals (NYSE:WPM) Given New $75.00 Price Target at CIBC

Wheaton Precious Metals (NYSE:WPM) had its price target hoisted by analysts at CIBC from $70.00 to $75.00 in a report released on Wednesday, Marketbeat.com reports. The firm currently has an “outperform” rating on the stock. CIBC’s price target would suggest a potential upside of 34.67% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Berenberg Bank raised their price target on shares of Wheaton Precious Metals from $54.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets lifted their target price on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group increased their price target on Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a report on Monday, April 22nd. National Bank Financial lowered Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Finally, Scotiabank cut their target price on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.33.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $55.69 on Wednesday. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $57.87. The stock’s 50-day moving average is $51.43 and its two-hundred day moving average is $48.02. The stock has a market cap of $25.25 billion, a PE ratio of 42.84, a P/E/G ratio of 2.10 and a beta of 0.75.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The firm had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. During the same period in the previous year, the company posted $0.23 EPS. Wheaton Precious Metals’s revenue for the quarter was up 38.7% on a year-over-year basis. On average, research analysts anticipate that Wheaton Precious Metals will post 1.28 earnings per share for the current year.

Hedge Funds Weigh In On Wheaton Precious Metals

Several large investors have recently added to or reduced their stakes in WPM. CVA Family Office LLC acquired a new stake in Wheaton Precious Metals in the fourth quarter worth $26,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $31,000. Principal Securities Inc. bought a new stake in Wheaton Precious Metals in the 4th quarter valued at about $39,000. Fifth Third Bancorp boosted its stake in Wheaton Precious Metals by 230.7% during the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after purchasing an additional 602 shares during the period. Finally, St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals in the 1st quarter worth about $52,000. 70.34% of the stock is currently owned by institutional investors.

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.