Wheaton Precious Metals (NYSE:WPM) Raised to Buy at Wall Street Zen

Wheaton Precious Metals (NYSE:WPM) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

WPM has been the subject of several other reports. Bank of America increased their price objective on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Scotiabank reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. Zacks Research lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Raymond James Financial lifted their price objective on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $130.78.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $135.46 on Friday. The company has a market capitalization of $61.50 billion, a price-to-earnings ratio of 61.57, a price-to-earnings-growth ratio of 1.31 and a beta of 0.52. Wheaton Precious Metals has a one year low of $56.70 and a one year high of $135.72. The company’s 50-day simple moving average is $114.55 and its two-hundred day simple moving average is $104.56.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.The company had revenue of $476.26 million during the quarter, compared to analyst estimates of $495.53 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. Wheaton Precious Metals’s revenue was up 54.5% on a year-over-year basis. Equities analysts expect that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently bought and sold shares of WPM. AQR Capital Management LLC acquired a new stake in shares of Wheaton Precious Metals in the 1st quarter worth $331,000. Focus Partners Wealth lifted its position in Wheaton Precious Metals by 10.7% in the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock valued at $871,000 after purchasing an additional 1,081 shares during the period. Acadian Asset Management LLC purchased a new stake in Wheaton Precious Metals in the 1st quarter valued at approximately $209,000. Sivia Capital Partners LLC acquired a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $239,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Wheaton Precious Metals by 56.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,656 shares of the company’s stock worth $418,000 after buying an additional 1,686 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.