Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $108.00

Wheaton Precious Metals (NYSE:WPM) had its target price boosted by Berenberg Bank from $102.00 to $108.00 in a research note released on Friday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently weighed in on WPM. Raymond James Financial increased their price target on shares of Wheaton Precious Metals from $112.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday. Scotiabank increased their price objective on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada increased their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th. CIBC reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average target price of $101.44.

Wheaton Precious Metals Stock Down 0.5%

WPM opened at $106.79 on Friday. Wheaton Precious Metals has a twelve month low of $55.47 and a twelve month high of $108.67. The company has a 50-day moving average price of $95.90 and a 200 day moving average price of $86.68. The company has a market cap of $48.48 billion, a PE ratio of 61.73, a price-to-earnings-growth ratio of 2.93 and a beta of 0.42.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The business had revenue of $503.22 million during the quarter, compared to analysts’ expectations of $424.23 million. During the same quarter in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was up 68.2% on a year-over-year basis. As a group, sell-side analysts expect that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 38.15%.

Institutional Investors Weigh In On Wheaton Precious Metals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bulwark Capital Corp acquired a new stake in Wheaton Precious Metals during the 2nd quarter worth $27,000. Delta Asset Management LLC TN purchased a new position in Wheaton Precious Metals during the 2nd quarter worth $27,000. NBT Bank N A NY grew its position in Wheaton Precious Metals by 129.3% during the 1st quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after purchasing an additional 234 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new position in Wheaton Precious Metals during the 1st quarter worth $38,000. Finally, City State Bank grew its position in Wheaton Precious Metals by 40.0% during the 2nd quarter. City State Bank now owns 560 shares of the company’s stock worth $50,000 after purchasing an additional 160 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.