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

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been given a consensus recommendation of “Buy” by the twelve research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $83.40.

Several brokerages have weighed in on WPM. National Bankshares reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Royal Bank of Canada increased their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, April 4th. Scotiabank raised their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a report on Monday, April 14th. Finally, UBS Group upped their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Friday, April 11th.

Institutional Trading of Wheaton Precious Metals

Large investors have recently added to or reduced their stakes in the company. Cerity Partners LLC grew its holdings in shares of Wheaton Precious Metals by 5.5% in the first quarter. Cerity Partners LLC now owns 20,271 shares of the company’s stock valued at $1,574,000 after purchasing an additional 1,058 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at about $2,935,000. Allworth Financial LP lifted its holdings in shares of Wheaton Precious Metals by 2.9% in the 1st quarter. Allworth Financial LP now owns 5,715 shares of the company’s stock valued at $470,000 after acquiring an additional 161 shares during the last quarter. Leavell Investment Management Inc. grew its position in Wheaton Precious Metals by 2.6% in the first quarter. Leavell Investment Management Inc. now owns 61,045 shares of the company’s stock worth $4,739,000 after acquiring an additional 1,529 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC bought a new stake in Wheaton Precious Metals during the first quarter worth approximately $221,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $83.51 on Thursday. The stock has a market cap of $37.89 billion, a P/E ratio of 62.32, a P/E/G ratio of 1.91 and a beta of 0.74. The stock’s fifty day moving average is $75.88 and its 200 day moving average is $66.81. Wheaton Precious Metals has a one year low of $51.96 and a one year high of $87.42.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $380.52 million during the quarter, compared to the consensus estimate of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Analysts predict that Wheaton Precious Metals will post 1.46 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.79%. Wheaton Precious Metals’s dividend payout ratio is presently 56.90%.

About Wheaton Precious Metals

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.