Wheaton Precious Metals Corp. (NYSE:WPM) Receives Consensus Recommendation of “Buy” from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM) has been given an average recommendation of “Buy” by the twelve analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $83.40.

Several research firms recently weighed in on WPM. BMO Capital Markets assumed coverage on Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 price target on the stock. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Scotiabank lifted their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 14th. Royal Bank of Canada upped their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, April 4th. Finally, National Bankshares restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd.

Wheaton Precious Metals Trading Up 2.1 %

Shares of Wheaton Precious Metals stock opened at $83.51 on Thursday. The business has a fifty day simple moving average of $75.88 and a two-hundred day simple moving average of $66.81. The firm has a market capitalization of $37.89 billion, a P/E ratio of 62.32, a P/E/G ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals has a 12 month low of $51.96 and a 12 month high of $87.42.

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

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a dividend of $0.165 per share. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a yield of 0.79%. Wheaton Precious Metals’s dividend payout ratio is 56.90%.

Institutional Investors Weigh In On Wheaton Precious Metals

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of Wheaton Precious Metals by 9.9% in the third quarter. Barclays PLC now owns 315,914 shares of the company’s stock worth $19,297,000 after acquiring an additional 28,485 shares during the period. Virtu Financial LLC purchased a new position in Wheaton Precious Metals in the third quarter worth about $284,000. Te Ahumairangi Investment Management Ltd grew its stake in shares of Wheaton Precious Metals by 1.0% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 67,392 shares of the company’s stock valued at $4,097,000 after purchasing an additional 668 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at about $1,832,000. Finally, Tidal Investments LLC lifted its stake in shares of Wheaton Precious Metals by 1.1% in the 3rd quarter. Tidal Investments LLC now owns 791,938 shares of the company’s stock worth $48,372,000 after purchasing an additional 8,399 shares during the period. 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.