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

Wheaton Precious Metals Corp. (NYSE:WPM) has received a consensus rating of “Buy” from the twelve analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $93.00.

Several analysts have weighed in on the stock. Scotiabank upped their price objective 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, April 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday. UBS Group upped their price objective on shares of 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 Financial increased their price target 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, Berenberg Bank increased their price target on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its stake in Wheaton Precious Metals by 8.1% in the second quarter. Rockefeller Capital Management L.P. now owns 63,945 shares of the company’s stock valued at $5,742,000 after acquiring an additional 4,808 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Wheaton Precious Metals by 35.2% in the second quarter. Ontario Teachers Pension Plan Board now owns 76,115 shares of the company’s stock valued at $6,849,000 after acquiring an additional 19,824 shares during the last quarter. Intech Investment Management LLC boosted its stake in Wheaton Precious Metals by 28.8% in the second quarter. Intech Investment Management LLC now owns 136,571 shares of the company’s stock valued at $12,257,000 after acquiring an additional 30,505 shares during the last quarter. Creative Planning boosted its stake in Wheaton Precious Metals by 13.7% in the second quarter. Creative Planning now owns 58,727 shares of the company’s stock valued at $5,274,000 after acquiring an additional 7,062 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in Wheaton Precious Metals in the second quarter valued at approximately $502,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Trading Up 0.9%

Shares of Wheaton Precious Metals stock opened at $100.64 on Friday. The stock has a market capitalization of $45.69 billion, a price-to-earnings ratio of 58.17, a P/E/G ratio of 2.79 and a beta of 0.39. Wheaton Precious Metals has a 1-year low of $54.12 and a 1-year high of $103.81. The firm’s 50-day moving average price is $91.54 and its two-hundred day moving average price is $80.63.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $503.22 million for the quarter, compared to analysts’ expectations of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 12.12%. The company’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, equities research analysts predict that Wheaton Precious Metals will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a $0.165 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 48.53%.

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.