Wheaton Precious Metals Corp. (NYSE:WPM) Given Average Rating of “Buy” by Brokerages

Wheaton Precious Metals Corp. (NYSE:WPMGet Rating) has been given a consensus recommendation of “Buy” by the nine research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $58.14.

A number of brokerages have recently weighed in on WPM. National Bank Financial increased their price target on Wheaton Precious Metals from C$68.00 to C$75.00 in a research report on Wednesday, April 20th. TD Securities dropped their price target on Wheaton Precious Metals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, May 9th. StockNews.com initiated coverage on Wheaton Precious Metals in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. KeyCorp raised their target price on Wheaton Precious Metals from $46.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 19th. Finally, Raymond James set a $61.00 target price on Wheaton Precious Metals and gave the company an “outperform” rating in a research report on Friday, May 6th.

Shares of NYSE WPM opened at $41.58 on Friday. The stock’s 50 day moving average price is $46.49 and its two-hundred day moving average price is $43.68. The stock has a market capitalization of $18.76 billion, a P/E ratio of 24.90, a PEG ratio of 5.68 and a beta of 0.50. Wheaton Precious Metals has a 52-week low of $36.39 and a 52-week high of $51.90.

Wheaton Precious Metals (NYSE:WPMGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $307.24 million for the quarter, compared to analysts’ expectations of $313.27 million. Wheaton Precious Metals had a return on equity of 9.60% and a net margin of 63.33%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. As a group, research analysts anticipate that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Shareholders of record on Friday, May 20th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, May 19th. Wheaton Precious Metals’s payout ratio is currently 35.93%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Rational Advisors LLC boosted its stake in Wheaton Precious Metals by 136.2% during the 4th quarter. Rational Advisors LLC now owns 574 shares of the company’s stock valued at $25,000 after purchasing an additional 331 shares in the last quarter. Selective Wealth Management Inc. bought a new position in Wheaton Precious Metals during the 1st quarter valued at $33,000. Huntington National Bank boosted its stake in Wheaton Precious Metals by 40.1% during the 4th quarter. Huntington National Bank now owns 873 shares of the company’s stock valued at $37,000 after purchasing an additional 250 shares in the last quarter. AHL Investment Management Inc. bought a new position in Wheaton Precious Metals during the 4th quarter valued at $48,000. Finally, Pinnacle Financial Partners Inc. boosted its stake in Wheaton Precious Metals by 133.0% during the 1st quarter. Pinnacle Financial Partners Inc. now owns 1,032 shares of the company’s stock valued at $49,000 after purchasing an additional 589 shares in the last quarter. 67.90% of the stock is owned by hedge funds and other institutional investors.

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.

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