Eight Capital Raises Wheaton Precious Metals (TSE:WPM) Price Target to C$85.00

Wheaton Precious Metals (TSE:WPM) had its target price upped by investment analysts at Eight Capital from C$82.50 to C$85.00 in a report issued on Monday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Eight Capital’s price objective would indicate a potential upside of 20.28% from the company’s previous close.

Several other brokerages have also recently weighed in on WPM. Veritas Investment Research raised their price objective on Wheaton Precious Metals from C$67.00 to C$84.00 in a report on Friday, April 12th. National Bankshares lowered Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$75.00 to C$68.00 in a research report on Friday, February 23rd. National Bank Financial cut Wheaton Precious Metals from an “outperform market weight” rating to a “sector perform overweight” rating in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus raised their target price on shares of Wheaton Precious Metals from C$72.00 to C$80.00 and gave the company a “buy” rating in a research note on Friday.

Wheaton Precious Metals Trading Down 2.4 %

TSE:WPM traded down C$1.71 on Monday, reaching C$70.67. The company’s stock had a trading volume of 274,688 shares, compared to its average volume of 816,049. The stock’s 50-day moving average price is C$63.09. Wheaton Precious Metals has a 1-year low of C$52.15 and a 1-year high of C$74.72. The stock has a market cap of C$32.02 billion, a price-to-earnings ratio of 44.11 and a beta of 0.66.

Wheaton Precious Metals (TSE:WPM) last posted its quarterly earnings data on Thursday, March 14th. The company reported C$0.49 EPS for the quarter, beating the consensus estimate of C$0.42 by C$0.07. The business had revenue of C$426.80 million for the quarter, compared to analysts’ expectations of C$381.95 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.85%. As a group, equities research analysts forecast that Wheaton Precious Metals will post 1.5534463 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total value of C$1,156,052.80. In other news, Senior Officer Gary Duncan Brown sold 1,857 shares of Wheaton Precious Metals stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total value of C$109,491.69. Also, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total value of C$1,156,052.80. Insiders have sold a total of 20,664 shares of company stock worth $1,272,782 in the last 90 days. Company insiders own 0.17% of the company’s stock.

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.