Wheaton Precious Metals Corp. (NYSE:WPM) Receives Average Recommendation of “Moderate Buy” from Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $57.39.

WPM has been the topic of a number of recent research reports. TD Securities raised Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their target price for the company from $51.00 to $53.00 in a research report on Monday, March 18th. Scotiabank upped their price objective on Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. BMO Capital Markets increased their price objective on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. National Bank Financial downgraded shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. Finally, Raymond James cut their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Thursday, February 22nd.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $52.94 on Monday. The firm has a market cap of $24.00 billion, a PE ratio of 40.72, a P/E/G ratio of 1.91 and a beta of 0.78. The business’s 50 day simple moving average is $53.98 and its 200 day simple moving average is $49.07. Wheaton Precious Metals has a 52-week low of $38.37 and a 52-week high of $57.87.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The firm’s revenue for the quarter was up 38.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. As a group, equities research analysts predict that Wheaton Precious Metals will post 1.29 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a yield of 1.17%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 47.69%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of institutional investors have recently made changes to their positions in the company. Cetera Advisors LLC bought a new stake in Wheaton Precious Metals in the 1st quarter valued at $400,000. Cetera Investment Advisers boosted its position in shares of Wheaton Precious Metals by 80.1% in the first quarter. Cetera Investment Advisers now owns 37,250 shares of the company’s stock valued at $1,756,000 after acquiring an additional 16,570 shares during the period. Western Pacific Wealth Management LP grew its stake in shares of Wheaton Precious Metals by 19.6% in the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after acquiring an additional 218 shares in the last quarter. Tidal Investments LLC increased its position in Wheaton Precious Metals by 2,565.0% during the first quarter. Tidal Investments LLC now owns 722,829 shares of the company’s stock worth $34,049,000 after acquiring an additional 695,706 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Wheaton Precious Metals by 5.8% in the 1st quarter. Janus Henderson Group PLC now owns 91,036 shares of the company’s stock worth $4,292,000 after purchasing an additional 5,009 shares in the last quarter. Institutional investors 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.