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

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $71.67.

A number of brokerages recently commented on WPM. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. TD Securities raised their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Raymond James upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th.

Wheaton Precious Metals Stock Up 1.8 %

NYSE WPM opened at $60.00 on Tuesday. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The business has a 50 day moving average price of $59.46 and a two-hundred day moving average price of $60.58. The stock has a market cap of $27.22 billion, a PE ratio of 44.77, a P/E/G ratio of 1.29 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. During the same period in the prior year, the firm earned $0.27 earnings per share. Sell-side analysts anticipate that Wheaton Precious Metals will post 1.45 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were paid a $0.155 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 1.03%. Wheaton Precious Metals’s payout ratio is currently 46.27%.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Wheaton Precious Metals by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after purchasing an additional 36,970 shares during the period. Well Done LLC raised its holdings in shares of Wheaton Precious Metals by 173.9% during the third quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after buying an additional 24,196 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Wheaton Precious Metals during the second quarter worth approximately $1,016,000. Swiss National Bank grew its holdings in Wheaton Precious Metals by 0.8% in the 3rd quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock worth $83,854,000 after buying an additional 10,600 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Wheaton Precious Metals in the 3rd quarter valued at approximately $1,287,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.