Berenberg Bank Raises Wheaton Precious Metals (NYSE:WPM) Price Target to $66.00

Wheaton Precious Metals (NYSE:WPM) had its price target increased by Berenberg Bank from $64.00 to $66.00 in a report released on Thursday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on WPM. Scotiabank lifted their target price on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an outperform rating in a research report on Thursday, May 23rd. TD Securities raised shares of Wheaton Precious Metals from a hold rating to a buy rating and lifted their target price for the stock from $51.00 to $53.00 in a research report on Monday, March 18th. Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a buy rating in a research report on Monday, April 22nd. CIBC lifted their target price on shares of Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an outperform rating in a research report on Wednesday, May 22nd. Finally, Bank of America lifted their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a buy rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $61.50.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $52.42 on Thursday. The firm’s 50 day moving average is $54.23 and its 200-day moving average is $49.40. The stock has a market capitalization of $23.77 billion, a P/E ratio of 40.32, a P/E/G ratio of 1.84 and a beta of 0.78. Wheaton Precious Metals has a 12-month low of $38.37 and a 12-month high of $57.87.

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

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors have recently added to or reduced their stakes in WPM. Envestnet Asset Management Inc. lifted its stake in Wheaton Precious Metals by 22.9% in the third quarter. Envestnet Asset Management Inc. now owns 74,486 shares of the company’s stock valued at $3,020,000 after acquiring an additional 13,875 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Wheaton Precious Metals by 2.0% in the third quarter. LPL Financial LLC now owns 174,515 shares of the company’s stock worth $7,077,000 after buying an additional 3,461 shares during the last quarter. Mariner LLC lifted its stake in shares of Wheaton Precious Metals by 5.8% in the third quarter. Mariner LLC now owns 29,174 shares of the company’s stock worth $1,183,000 after buying an additional 1,598 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Wheaton Precious Metals by 4.8% in the third quarter. Stifel Financial Corp now owns 80,999 shares of the company’s stock worth $3,285,000 after buying an additional 3,730 shares during the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Wheaton Precious Metals in the third quarter worth $214,000. 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.