Wheaton Precious Metals Corp. (NYSE:WPM) Receives $86.90 Average Target Price from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM) has been assigned an average rating of “Buy” from the twelve brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $86.90.

WPM has been the subject of a number of recent analyst reports. National Bankshares reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. CIBC increased their target price on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an “outperformer” rating in a research report on Friday, May 9th. Scotiabank increased their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research report on Monday, April 14th. UBS Group increased their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, Royal Bank Of Canada increased their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th.

Hedge Funds Weigh In On Wheaton Precious Metals

Large investors have recently made changes to their positions in the business. Promus Capital LLC acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $32,000. NBT Bank N A NY boosted its holdings in shares of Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after buying an additional 234 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $38,000. Wealth Preservation Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the first quarter worth about $38,000. Finally, Quintet Private Bank Europe S.A. acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $39,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 2.0%

WPM stock opened at $89.29 on Friday. Wheaton Precious Metals has a fifty-two week low of $51.96 and a fifty-two week high of $95.23. The firm’s 50-day simple moving average is $85.33 and its 200 day simple moving average is $72.70. The stock has a market cap of $40.53 billion, a PE ratio of 65.66, a price-to-earnings-growth ratio of 2.76 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The business had revenue of $470.41 million for the quarter, compared to analysts’ expectations of $446.33 million. During the same quarter last year, the company earned $0.36 EPS. The company’s revenue for the quarter was up 58.4% compared to the same quarter last year. Equities analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.74%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 48.53%.

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.