Wheaton Precious Metals Corp. (NYSE:WPM) Receives Consensus Rating of “Buy” from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM) has received an average recommendation of “Buy” from the twelve analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $140.4444.

WPM has been the subject of a number of research reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Wheaton Precious Metals in a report on Monday, January 26th. Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $115.00 to $130.00 in a research report on Wednesday, December 10th. Finally, UBS Group reiterated a “neutral” rating and issued a $158.00 price target on shares of Wheaton Precious Metals in a research report on Friday, January 30th.

Wheaton Precious Metals Trading Up 1.1%

Shares of NYSE WPM opened at $157.59 on Wednesday. Wheaton Precious Metals has a twelve month low of $66.69 and a twelve month high of $160.36. The firm has a 50-day moving average of $134.30 and a two-hundred day moving average of $114.39. The company has a market capitalization of $71.55 billion, a price-to-earnings ratio of 71.63, a PEG ratio of 1.29 and a beta of 0.52.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Wheaton Precious Metals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock valued at $2,242,969,000 after acquiring an additional 289,939 shares in the last quarter. Van ECK Associates Corp raised its stake in Wheaton Precious Metals by 10.7% during the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock valued at $1,700,517,000 after purchasing an additional 1,402,092 shares during the period. Capital International Investors lifted its holdings in shares of Wheaton Precious Metals by 1.2% in the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock valued at $892,650,000 after purchasing an additional 93,599 shares in the last quarter. Norges Bank purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at $864,977,000. Finally, TD Asset Management Inc boosted its position in shares of Wheaton Precious Metals by 0.5% in the fourth quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock worth $857,598,000 after buying an additional 33,221 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Company Profile

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.