Royal Bank of Canada Issues Positive Forecast for Wheaton Precious Metals (NYSE:WPM) Stock Price

Wheaton Precious Metals (NYSE:WPM) had its price target increased by Royal Bank of Canada from $80.00 to $90.00 in a report released on Wednesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other analysts also recently issued reports about the company. Scotiabank lifted their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research note on Monday, April 14th. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a report on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 price target for the company. Raymond James raised 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 note on Tuesday, April 15th. Finally, UBS Group upped their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $86.90.

Wheaton Precious Metals Stock Performance

WPM stock opened at $92.78 on Wednesday. The stock has a market capitalization of $42.11 billion, a PE ratio of 69.24, a price-to-earnings-growth ratio of 1.91 and a beta of 0.49. The company has a fifty day moving average of $81.72 and a 200-day moving average of $70.25. Wheaton Precious Metals has a one year low of $51.96 and a one year high of $93.20.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $470.41 million during the quarter, compared to the consensus estimate of $446.33 million. During the same quarter last year, the firm earned $0.36 earnings per share. The firm’s revenue was up 58.4% compared to the same quarter last year. Equities analysts forecast that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Wednesday, May 28th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 48.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Promus Capital LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter valued at $32,000. NBT Bank N A NY lifted its position in shares of Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company’s stock valued at $32,000 after acquiring an additional 234 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at $38,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Wheaton Precious Metals during the first quarter valued at $38,000. Finally, Quintet Private Bank Europe S.A. purchased a new stake in Wheaton Precious Metals during the 4th quarter worth about $39,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

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.