Wheaton Precious Metals Corp. (NYSE:WPM) Given Consensus Recommendation of “Buy” by Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has been given a consensus recommendation of “Buy” by the eight brokerages that are presently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $69.88.

WPM has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Berenberg Bank upped their price target on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Bank of America lifted their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Scotiabank upped their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Raymond James lifted their price target on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th.

Wheaton Precious Metals Stock Up 4.6 %

NYSE WPM opened at $66.49 on Friday. Wheaton Precious Metals has a 12-month low of $38.57 and a 12-month high of $66.75. The firm has a 50-day moving average price of $61.09 and a two-hundred day moving average price of $57.03. The company has a market capitalization of $30.16 billion, a P/E ratio of 52.77, a P/E/G ratio of 2.18 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. Equities analysts expect that Wheaton Precious Metals will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a $0.155 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 0.93%. Wheaton Precious Metals’s dividend payout ratio is presently 49.21%.

Institutional Trading of Wheaton Precious Metals

Several hedge funds and other institutional investors have recently made changes to their positions in WPM. Ridgewood Investments LLC bought a new stake in Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC bought a new stake in shares of Wheaton Precious Metals in the second quarter worth $31,000. Sunbelt Securities Inc. acquired a new stake in Wheaton Precious Metals in the second quarter valued at $47,000. St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals during the 1st quarter worth $52,000. Finally, Western Pacific Wealth Management LP lifted 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 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.