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

Wheaton Precious Metals Corp. (NYSE:WPM) has been given a consensus recommendation of “Buy” by the twelve analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $85.90.

Several research analysts have recently commented on WPM shares. UBS Group raised 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. Raymond James raised their price target on Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Scotiabank lifted their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research report on Monday, April 14th. CIBC lifted their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the company an “outperformer” rating in a research report on Friday, May 9th. Finally, Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $86.67 on Monday. Wheaton Precious Metals has a one year low of $51.96 and a one year high of $87.42. The stock has a market capitalization of $39.33 billion, a PE ratio of 64.68, a price-to-earnings-growth ratio of 1.91 and a beta of 0.49. The business’s fifty day moving average is $79.69 and its 200 day moving average is $68.82.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. Wheaton Precious Metals’s revenue was up 58.4% on a year-over-year basis. As a group, sell-side analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.76%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 48.53%.

Institutional Investors Weigh In On Wheaton Precious Metals

Large investors have recently made changes to their positions in the stock. Promus Capital LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $32,000. NBT Bank N A NY grew its position in Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after acquiring an additional 234 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Wheaton Precious Metals in the fourth quarter worth approximately $38,000. Wealth Preservation Advisors LLC purchased a new position in Wheaton Precious Metals in the first quarter worth approximately $38,000. Finally, Quintet Private Bank Europe S.A. purchased a new position in Wheaton Precious Metals in the fourth quarter worth approximately $39,000. 70.34% of the stock is currently owned by hedge funds and other 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.