BMO Capital Markets Begins Coverage on Wheaton Precious Metals (NYSE:WPM)

Research analysts at BMO Capital Markets started coverage on shares of Wheaton Precious Metals (NYSE:WPM) in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $129.00 price target on the stock. BMO Capital Markets’ price objective indicates a potential upside of 53.28% from the company’s current price.

A number of other equities research analysts also recently weighed in on WPM. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research note on Monday. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Royal Bank of Canada raised their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, April 4th. UBS Group lifted their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, Raymond James upped their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $83.40.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $84.16 on Wednesday. The stock’s 50-day moving average is $73.28 and its two-hundred day moving average is $65.42. Wheaton Precious Metals has a fifty-two week low of $50.91 and a fifty-two week high of $86.20. The firm has a market cap of $38.18 billion, a P/E ratio of 62.81, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $380.52 million during the quarter, compared to the consensus estimate of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current year.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in shares of Wheaton Precious Metals by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock valued at $1,154,843,000 after purchasing an additional 1,231,999 shares during the last quarter. Vanguard Group Inc. increased its position in Wheaton Precious Metals by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company’s stock worth $994,733,000 after purchasing an additional 281,123 shares in the last quarter. FMR LLC boosted its holdings in shares of Wheaton Precious Metals by 5.9% during the 4th quarter. FMR LLC now owns 15,529,219 shares of the company’s stock valued at $873,995,000 after acquiring an additional 863,306 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Wheaton Precious Metals by 5.0% in the fourth quarter. Royal Bank of Canada now owns 9,424,930 shares of the company’s stock valued at $530,057,000 after buying an additional 447,702 shares during the period. Finally, Norges Bank bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at $472,648,000. 70.34% of the stock is owned by institutional investors.

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.