Wheaton Precious Metals Corp. (NYSE:WPM) Receives $71.67 Average Price Target from Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has received a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $72.44.

A number of research analysts have commented on WPM shares. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Scotiabank increased their target price on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Monday.

Institutional Investors Weigh In On Wheaton Precious Metals

Several large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its stake in Wheaton Precious Metals by 14.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 58,047 shares of the company’s stock valued at $3,265,000 after acquiring an additional 7,265 shares during the period. PKO Investment Management Joint Stock Co bought a new stake in Wheaton Precious Metals during the fourth quarter worth $11,678,000. Comprehensive Money Management Services LLC purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $1,063,000. Total Wealth Planning & Management Inc. purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $244,000. Finally, Employees Retirement System of Texas purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $780,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 0.6 %

WPM stock opened at $75.53 on Wednesday. The firm has a market capitalization of $34.27 billion, a PE ratio of 56.37, a PEG ratio of 1.91 and a beta of 0.76. Wheaton Precious Metals has a 1-year low of $43.18 and a 1-year high of $77.44. The business’s 50 day simple moving average is $65.49 and its 200 day simple moving average is $62.89.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $380.52 million during the quarter, compared to analyst estimates of $395.74 million. During the same period in the prior year, the company earned $0.36 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, sell-side analysts predict that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.165 dividend. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, April 1st. This represents a $0.66 annualized dividend and a dividend yield of 0.87%. Wheaton Precious Metals’s dividend payout ratio is presently 49.25%.

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.