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

Wheaton Precious Metals Corp. (NYSE:WPM) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $155.6364.

Several analysts have recently weighed in on WPM shares. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. TD Cowen lifted their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Scotiabank lifted their target price on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, BMO Capital Markets started coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price for the company.

Wheaton Precious Metals Stock Down 2.2%

NYSE WPM opened at $110.77 on Tuesday. The company has a fifty day moving average of $127.98 and a two-hundred day moving average of $132.84. The firm has a market capitalization of $50.30 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 2.13 and a beta of 0.51. Wheaton Precious Metals has a 52 week low of $85.59 and a 52 week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same period last year, the company earned $0.55 earnings per share. The business’s revenue for the quarter was up 91.7% compared to the same quarter last year. Equities research analysts anticipate that Wheaton Precious Metals will post 4.99 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 19.70%.

Institutional Trading of Wheaton Precious Metals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rathbones Group PLC raised its holdings in shares of Wheaton Precious Metals by 27.2% in the first quarter. Rathbones Group PLC now owns 19,205 shares of the company’s stock valued at $2,514,000 after acquiring an additional 4,107 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Wheaton Precious Metals by 18.8% in the first quarter. NewEdge Advisors LLC now owns 40,742 shares of the company’s stock valued at $5,338,000 after acquiring an additional 6,445 shares in the last quarter. Axiom Investment Management LLC bought a new stake in shares of Wheaton Precious Metals in the first quarter valued at about $445,000. Groupama Asset Managment raised its holdings in shares of Wheaton Precious Metals by 10.2% in the first quarter. Groupama Asset Managment now owns 43,930 shares of the company’s stock valued at $5,755,000 after acquiring an additional 4,051 shares in the last quarter. Finally, WNY Asset Management LLC bought a new stake in shares of Wheaton Precious Metals in the first quarter valued at about $944,000. 70.34% of the stock is currently owned by institutional investors.

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.