Wheaton Precious Metals (NYSE:WPM) Rating Increased to Buy at Wall Street Zen

Wheaton Precious Metals (NYSE:WPM) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

WPM has been the topic of several other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Bank of America boosted their price objective on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. UBS Group raised their target price on shares of Wheaton Precious Metals from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Monday, December 1st. CIBC lifted their price objective on Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $115.00 to $130.00 in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $130.78.

Wheaton Precious Metals Stock Down 0.0%

Shares of NYSE WPM opened at $135.46 on Friday. The stock has a market capitalization of $61.50 billion, a price-to-earnings ratio of 61.57, a price-to-earnings-growth ratio of 1.31 and a beta of 0.52. Wheaton Precious Metals has a 52 week low of $56.70 and a 52 week high of $135.72. The firm has a 50-day moving average price of $114.55 and a 200 day moving average price of $104.56.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The firm’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. Equities research analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors have recently modified their holdings of WPM. Vanguard Group Inc. increased its position in shares of Wheaton Precious Metals by 1.3% in the third quarter. Vanguard Group Inc. now owns 18,789,090 shares of the company’s stock worth $2,102,611,000 after acquiring an additional 234,439 shares in the last quarter. Norges Bank acquired a new stake in Wheaton Precious Metals in the 2nd quarter valued at $656,463,000. TD Asset Management Inc raised its holdings in shares of Wheaton Precious Metals by 3.5% during the 3rd quarter. TD Asset Management Inc now owns 7,252,054 shares of the company’s stock valued at $811,726,000 after buying an additional 244,027 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Wheaton Precious Metals by 36.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock valued at $777,938,000 after purchasing an additional 1,847,977 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Wheaton Precious Metals by 26.1% during the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock worth $722,270,000 after acquiring an additional 1,335,588 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

About Wheaton Precious Metals

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.