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

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned an average rating of “Buy” from the twelve research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $140.4444.

WPM has been the topic of a number of recent research reports. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $115.00 to $130.00 in a report on Wednesday, December 10th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Jefferies Financial Group restated a “buy” rating and set a $145.00 price objective on shares of Wheaton Precious Metals in a research report on Sunday, December 7th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th.

Hedge Funds Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. boosted its holdings in shares of Wheaton Precious Metals by 9.4% in the third quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company’s stock valued at $89,886,000 after acquiring an additional 69,496 shares in the last quarter. J. Safra Sarasin Holding AG lifted its position in Wheaton Precious Metals by 38.5% in the third quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock worth $7,659,000 after purchasing an additional 19,050 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Wheaton Precious Metals during the 3rd quarter valued at $11,355,000. West Family Investments Inc. acquired a new position in shares of Wheaton Precious Metals during the 2nd quarter valued at $247,000. Finally, Norges Bank bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth $656,463,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $157.59 on Wednesday. Wheaton Precious Metals has a 12 month low of $66.69 and a 12 month high of $160.36. The company has a fifty day moving average price of $134.30 and a two-hundred day moving average price of $114.39. The company has a market cap of $71.55 billion, a PE ratio of 71.63, a P/E/G ratio of 1.29 and a beta of 0.52.

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.