Wheaton Precious Metals (NYSE:WPM) Price Target Lowered to $60.00 at TD Securities

Wheaton Precious Metals (NYSE:WPMGet Rating) had its target price reduced by equities research analysts at TD Securities from $62.00 to $60.00 in a research note issued on Monday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 39.99% from the stock’s current price.

Other analysts also recently issued reports about the stock. National Bank Financial increased their price target on shares of Wheaton Precious Metals from C$68.00 to C$75.00 in a report on Wednesday, April 20th. Barclays increased their price target on shares of Wheaton Precious Metals from $45.00 to $49.00 in a report on Thursday, April 21st. KeyCorp increased their price target on shares of Wheaton Precious Metals from $46.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, April 19th. Raymond James set a $61.00 price target on shares of Wheaton Precious Metals and gave the company an “outperform” rating in a report on Friday. Finally, StockNews.com initiated coverage on shares of Wheaton Precious Metals in a report on Thursday, March 31st. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Buy” and a consensus target price of $58.14.

Shares of NYSE WPM traded down $1.29 during trading hours on Monday, hitting $42.86. 293,288 shares of the stock were exchanged, compared to its average volume of 2,545,386. The company’s 50 day moving average is $47.78 and its 200 day moving average is $43.71. The firm has a market capitalization of $19.34 billion, a P/E ratio of 25.84, a P/E/G ratio of 6.04 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 posted its quarterly earnings data on Thursday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $307.24 million during the quarter, compared to the consensus estimate of $313.27 million. Wheaton Precious Metals had a net margin of 63.33% and a return on equity of 9.71%. Wheaton Precious Metals’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. On average, analysts anticipate that Wheaton Precious Metals will post 1.45 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AE Wealth Management LLC increased its position in Wheaton Precious Metals by 2.1% in the 1st quarter. AE Wealth Management LLC now owns 10,228 shares of the company’s stock valued at $487,000 after acquiring an additional 207 shares in the last quarter. Huntington National Bank increased its position in Wheaton Precious Metals by 40.1% in the 4th quarter. Huntington National Bank now owns 873 shares of the company’s stock valued at $37,000 after acquiring an additional 250 shares in the last quarter. Advisor Partners LLC increased its position in Wheaton Precious Metals by 4.8% in the 1st quarter. Advisor Partners LLC now owns 5,699 shares of the company’s stock valued at $271,000 after acquiring an additional 263 shares in the last quarter. Quadrant Capital Group LLC increased its position in Wheaton Precious Metals by 9.4% in the 4th quarter. Quadrant Capital Group LLC now owns 3,598 shares of the company’s stock valued at $154,000 after acquiring an additional 310 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. increased its position in Wheaton Precious Metals by 2.2% in the 4th quarter. PCJ Investment Counsel Ltd. now owns 15,000 shares of the company’s stock valued at $644,000 after acquiring an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 67.90% of the company’s stock.

About Wheaton Precious Metals (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.

Recommended Stories

Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

Receive News & Ratings for Wheaton Precious Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wheaton Precious Metals and related companies with MarketBeat.com's FREE daily email newsletter.