UBS Group Initiates Coverage on Wheaton Precious Metals (NYSE:WPM)

UBS Group started coverage on shares of Wheaton Precious Metals (NYSE:WPM) in a research note published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $78.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on WPM. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Raymond James upped their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Scotiabank upped their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group upped their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Trading Up 0.9 %

WPM stock opened at $63.40 on Monday. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $68.64. The company has a market capitalization of $28.76 billion, a P/E ratio of 47.31, a PEG ratio of 2.28 and a beta of 0.77. The firm has a 50 day simple moving average of $62.99 and a 200-day simple moving average of $59.06.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same period last year, the business posted $0.27 earnings per share. On average, research analysts predict that Wheaton Precious Metals will post 1.44 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new stake in Wheaton Precious Metals in the 2nd quarter valued at about $31,000. Abich Financial Wealth Management LLC acquired a new stake in Wheaton Precious Metals during the 2nd quarter worth about $31,000. Sunbelt Securities Inc. acquired a new stake in Wheaton Precious Metals during the 2nd quarter worth about $47,000. St. Johns Investment Management Company LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter worth about $48,000. Finally, Western Pacific Wealth Management LP raised its holdings in Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after buying an additional 218 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.