Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $75.00 at Raymond James

Wheaton Precious Metals (NYSE:WPM) had its price target raised by Raymond James from $74.00 to $75.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Scotiabank raised their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. CIBC upped their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, TD Securities decreased their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.25.

Wheaton Precious Metals Trading Down 1.5 %

WPM traded down $0.99 during midday trading on Friday, hitting $66.13. 1,261,257 shares of the company traded hands, compared to its average volume of 1,759,317. The business has a 50 day simple moving average of $62.01 and a two-hundred day simple moving average of $57.62. Wheaton Precious Metals has a 52-week low of $38.57 and a 52-week high of $68.64. The company has a market capitalization of $29.99 billion, a price-to-earnings ratio of 50.87, a PEG ratio of 2.48 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same period last year, the company posted $0.31 EPS. Wheaton Precious Metals’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that Wheaton Precious Metals will post 1.45 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.94%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

Institutional Trading of Wheaton Precious Metals

Institutional investors have recently made changes to their positions in the company. Financial Sense Advisors Inc. raised its position in Wheaton Precious Metals by 54.0% in the first quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock valued at $2,679,000 after purchasing an additional 19,924 shares during the period. Mediolanum International Funds Ltd acquired a new position in Wheaton Precious Metals in the first quarter valued at about $1,752,000. Russell Investments Group Ltd. boosted its stake in Wheaton Precious Metals by 8.5% during the first quarter. Russell Investments Group Ltd. now owns 878,049 shares of the company’s stock worth $41,227,000 after buying an additional 68,755 shares during the period. SageView Advisory Group LLC acquired a new stake in shares of Wheaton Precious Metals during the first quarter valued at about $770,000. Finally, Well Done LLC raised its stake in shares of Wheaton Precious Metals by 173.9% in the 3rd quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after acquiring an additional 24,196 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

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.