Wheaton Precious Metals (NYSE:WPM) Given a $61.00 Price Target at Raymond James

Raymond James set a $61.00 price target on Wheaton Precious Metals (NYSE:WPMGet Rating) in a research report sent to investors on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

WPM has been the subject of several other research reports. National Bank Financial raised their price target on Wheaton Precious Metals from C$68.00 to C$75.00 in a report on Wednesday, April 20th. StockNews.com initiated coverage on Wheaton Precious Metals in a report on Thursday, March 31st. They set a hold rating for the company. Barclays raised their price target on Wheaton Precious Metals from $45.00 to $49.00 in a report on Thursday, April 21st. Finally, KeyCorp raised their price target on Wheaton Precious Metals from $46.00 to $56.00 and gave the company an overweight rating in a report on Tuesday, April 19th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of Buy and a consensus price target of $58.00.

WPM traded down $0.14 on Friday, hitting $44.15. 2,200,265 shares of the company’s stock traded hands, compared to its average volume of 2,445,375. The company’s 50 day simple moving average is $47.78 and its 200-day simple moving average is $43.67. The firm has a market cap of $19.92 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 6.28 and a beta of 0.50. Wheaton Precious Metals has a one year low of $36.39 and a one year high of $51.90.

Wheaton Precious Metals (NYSE:WPMGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $307.24 million for the quarter, compared to the consensus estimate of $313.27 million. Wheaton Precious Metals had a return on equity of 9.86% and a net margin of 62.82%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the company earned $0.36 EPS. Equities analysts predict that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Thursday, March 24th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Wednesday, March 23rd. Wheaton Precious Metals’s dividend payout ratio (DPR) is 35.93%.

Several institutional investors have recently made changes to their positions in the company. U S Global Investors Inc. boosted its holdings in shares of Wheaton Precious Metals by 9.2% in the 1st quarter. U S Global Investors Inc. now owns 331,207 shares of the company’s stock worth $15,759,000 after purchasing an additional 27,976 shares during the period. CIBC Asset Management Inc boosted its holdings in Wheaton Precious Metals by 74.5% during the 1st quarter. CIBC Asset Management Inc now owns 1,071,270 shares of the company’s stock valued at $51,001,000 after acquiring an additional 457,214 shares during the period. Aigen Investment Management LP purchased a new position in Wheaton Precious Metals during the 1st quarter valued at $763,000. Philadelphia Trust Co. purchased a new position in Wheaton Precious Metals during the 1st quarter valued at $3,340,000. Finally, National Bank of Canada FI boosted its holdings in Wheaton Precious Metals by 22.3% during the 1st quarter. National Bank of Canada FI now owns 185,135 shares of the company’s stock valued at $8,885,000 after acquiring an additional 33,767 shares during the period. Hedge funds and other institutional investors own 67.90% of the company’s stock.

Wheaton Precious Metals Company Profile (Get Rating)

Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.

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