Silver Wheaton Corp (WPM) Earns Outperform Rating from Royal Bank Of Canada
Silver Wheaton Corp (NYSE:WPM)‘s stock had its “outperform” rating restated by analysts at Royal Bank Of Canada in a research note issued on Tuesday. They presently have a $25.00 price objective on the stock, down from their prior price objective of $27.00. Royal Bank Of Canada’s target price would suggest a potential upside of 18.99% from the company’s previous close.
Several other research firms have also recently weighed in on WPM. Deutsche Bank AG reiterated a “hold” rating and set a $29.00 price objective (down previously from $31.00) on shares of Silver Wheaton Corp in a research report on Sunday, June 25th. Zacks Investment Research upgraded Silver Wheaton Corp from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and set a $27.00 price objective on shares of Silver Wheaton Corp in a research report on Sunday, June 18th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $27.25.
Shares of Silver Wheaton Corp (NYSE WPM) traded up 1.84% during midday trading on Tuesday, reaching $21.01. 1,750,116 shares of the company’s stock traded hands. The stock has a 50 day moving average of $19.79 and a 200-day moving average of $20.12. Silver Wheaton Corp has a 52-week low of $16.94 and a 52-week high of $29.53. The stock has a market cap of $9.29 billion, a price-to-earnings ratio of 41.94 and a beta of 0.33.
Silver Wheaton Corp (NYSE:WPM) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $200 million for the quarter, compared to analysts’ expectations of $217.81 million. Silver Wheaton Corp had a return on equity of 5.90% and a net margin of 25.05%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 EPS. On average, equities research analysts expect that Silver Wheaton Corp will post $0.61 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC bought a new position in shares of Silver Wheaton Corp in the second quarter worth $1,816,000. Hillsdale Investment Management Inc. bought a new position in shares of Silver Wheaton Corp in the second quarter worth $1,576,000. Pring Turner Capital Group Inc. bought a new position in shares of Silver Wheaton Corp in the second quarter worth $2,051,000. Sheaff Brock Investment Advisors LLC bought a new position in shares of Silver Wheaton Corp in the second quarter worth $1,434,000. Finally, Atlantic Trust Group LLC bought a new position in shares of Silver Wheaton Corp in the second quarter worth $238,000. Institutional investors own 48.10% of the company’s stock.
About Silver Wheaton Corp
Wheaton Precious Metals Corp, formerly Silver Wheaton Corp, is a Canada-based pure precious metals streaming company engaged in the sale of silver and gold. The Company operates through eight segments: the silver produced by the San Dimas, Penasquito and Antamina mines, the gold produced by the Sudbury and Salobo mines, the silver and gold produced by the Constancia mine and the Other mines, and corporate operations.
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