Wheaton Precious Metals (NYSE:WPM) Earns Buy Rating from Analysts at UBS Group

Analysts at UBS Group started coverage on shares of Wheaton Precious Metals (NYSE:WPM) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $78.00 price target on the stock. UBS Group’s target price suggests a potential upside of 28.71% from the stock’s previous close.

Several other research firms have also recently commented on WPM. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. 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 research report on Friday, October 4th. TD Securities lifted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Raymond James boosted 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. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Stock Up 3.3 %

NYSE WPM opened at $60.60 on Monday. The company has a market cap of $27.49 billion, a PE ratio of 45.18, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64. The firm’s 50-day simple moving average is $62.76 and its two-hundred day simple moving average is $58.88.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same period in the prior year, the company posted $0.27 EPS. As a group, equities research analysts anticipate that Wheaton Precious Metals will post 1.44 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC boosted its holdings in shares of Wheaton Precious Metals by 136.1% during the 1st quarter. Quent Capital LLC now owns 5,636 shares of the company’s stock valued at $266,000 after buying an additional 3,249 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Wheaton Precious Metals by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after buying an additional 272,918 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Wheaton Precious Metals by 6.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 10,817 shares of the company’s stock valued at $510,000 after purchasing an additional 656 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Wheaton Precious Metals by 2.8% in the first quarter. Clearbridge Investments LLC now owns 705,706 shares of the company’s stock worth $33,260,000 after purchasing an additional 19,473 shares during the period. Finally, UniSuper Management Pty Ltd boosted its position in shares of Wheaton Precious Metals by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 6,400 shares of the company’s stock worth $302,000 after purchasing an additional 3,200 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

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.