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

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $71.67.

Several equities research analysts have issued reports on the stock. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Raymond James increased their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. TD Securities lifted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group upped their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Scotiabank lifted their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC purchased a new position in Wheaton Precious Metals in the second quarter worth $31,000. Abich Financial Wealth Management LLC purchased a new position in Wheaton Precious Metals during the 2nd quarter worth $31,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals in the third quarter valued at about $48,000. Sunbelt Securities Inc. acquired a new stake in Wheaton Precious Metals in the second quarter worth about $47,000. Finally, Dunhill Financial LLC grew its stake in shares of Wheaton Precious Metals by 200.9% during the third quarter. Dunhill Financial LLC now owns 1,050 shares of the company’s stock worth $64,000 after acquiring an additional 701 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $61.33 on Monday. The stock has a 50 day moving average price of $62.89 and a 200 day moving average price of $59.62. Wheaton Precious Metals has a 52-week low of $38.57 and a 52-week high of $68.64. The firm has a market capitalization of $27.82 billion, a P/E ratio of 45.77, a P/E/G ratio of 1.76 and a beta of 0.75.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same period last year, the company earned $0.27 earnings per share. As a group, sell-side analysts forecast that Wheaton Precious Metals will post 1.44 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Thursday, November 21st. Wheaton Precious Metals’s payout ratio is 46.27%.

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.