Wheaton Precious Metals Corp. (NYSE:WPM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $124.50.

A number of research firms have weighed in on WPM. Scotiabank restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. Raymond James Financial raised their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. BMO Capital Markets restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Thursday.

Wheaton Precious Metals Trading Down 1.5%

Wheaton Precious Metals stock opened at $104.15 on Monday. Wheaton Precious Metals has a 12 month low of $55.47 and a 12 month high of $114.36. The company has a market capitalization of $47.29 billion, a price-to-earnings ratio of 60.20, a price-to-earnings-growth ratio of 1.67 and a beta of 0.38. The business’s fifty day simple moving average is $104.27 and its two-hundred day simple moving average is $95.49.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. The firm had revenue of $476.26 million during the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The company’s revenue was up 54.5% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. On average, equities research analysts predict that Wheaton Precious Metals will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 30.00%.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC grew its position in shares of Wheaton Precious Metals by 5.5% during 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. B.O.S.S. Retirement Advisors LLC bought a new position in Wheaton Precious Metals during the second quarter valued at approximately $218,000. Voya Investment Management LLC increased its stake in Wheaton Precious Metals by 18.0% in the 1st quarter. Voya Investment Management LLC now owns 747,477 shares of the company’s stock worth $58,026,000 after acquiring an additional 113,835 shares during the last quarter. LGT Fund Management Co Ltd. purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $225,000. Finally, Guardian Partners Inc. purchased a new stake in shares of Wheaton Precious Metals during the 1st quarter worth approximately $538,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

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.