Wheaton Precious Metals (NYSE:WPM) Stock Price Expected to Rise, Raymond James Analyst Says

Wheaton Precious Metals (NYSE:WPM) had its price objective boosted by Raymond James from $88.00 to $90.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 9.11% from the stock’s current price.

WPM has been the subject of a number of other research reports. Scotiabank boosted their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research report on Monday. UBS Group boosted their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada upped their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Friday, April 4th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Buy” and a consensus price target of $76.60.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded up $0.16 during trading on Tuesday, hitting $82.49. 387,401 shares of the stock were exchanged, compared to its average volume of 1,640,594. The stock has a market cap of $37.42 billion, a PE ratio of 61.55, a P/E/G ratio of 1.91 and a beta of 0.74. The stock’s fifty day moving average is $72.25 and its 200 day moving average is $65.00. Wheaton Precious Metals has a 12 month low of $49.71 and a 12 month high of $83.63.

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

Hedge Funds Weigh In On Wheaton Precious Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPM. Fielder Capital Group LLC lifted its stake in Wheaton Precious Metals by 0.7% in the 4th quarter. Fielder Capital Group LLC now owns 24,701 shares of the company’s stock worth $1,389,000 after acquiring an additional 176 shares in the last quarter. Signaturefd LLC increased its stake in Wheaton Precious Metals by 1.5% in the 4th quarter. Signaturefd LLC now owns 11,877 shares of the company’s stock valued at $668,000 after buying an additional 178 shares during the period. Merit Financial Group LLC boosted its stake in shares of Wheaton Precious Metals by 3.9% during the 4th quarter. Merit Financial Group LLC now owns 4,818 shares of the company’s stock valued at $271,000 after buying an additional 179 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Wheaton Precious Metals by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock valued at $1,208,000 after acquiring an additional 196 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Wheaton Precious Metals by 5.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,027 shares of the company’s stock worth $226,000 after acquiring an additional 216 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other 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.