Wheaton Precious Metals (NYSE:WPM) Given Outperform Rating at Raymond James

Raymond James reissued their outperform rating on shares of Wheaton Precious Metals (NYSE:WPM) in a research report report published on Monday, BayStreet.CA reports. The firm currently has a $35.00 price target on the stock.

WPM has been the subject of several other research reports. Barclays cut Wheaton Precious Metals from an overweight rating to an equal weight rating and set a $28.00 price objective for the company. in a report on Tuesday, October 15th. TheStreet cut Wheaton Precious Metals from a b rating to a c+ rating in a report on Friday, August 9th. Canaccord Genuity reiterated a buy rating on shares of Wheaton Precious Metals in a report on Friday, August 23rd. ValuEngine cut Wheaton Precious Metals from a buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, Credit Suisse Group increased their price objective on Wheaton Precious Metals from $34.00 to $38.00 and gave the stock a neutral rating in a report on Friday, August 9th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Wheaton Precious Metals currently has a consensus rating of Buy and an average target price of $32.36.

WPM stock traded down $0.20 during trading on Monday, hitting $27.80. 2,288,570 shares of the company traded hands, compared to its average volume of 2,449,001. The firm has a market capitalization of $12.05 billion, a PE ratio of 57.92, a P/E/G ratio of 9.41 and a beta of -0.08. Wheaton Precious Metals has a 1 year low of $15.25 and a 1 year high of $30.90. The company has a 50-day moving average of $26.79 and a 200-day moving average of $25.35. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.67 and a current ratio of 4.67.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, November 14th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Wheaton Precious Metals had a return on equity of 4.07% and a net margin of 1.85%. The business had revenue of $223.60 million during the quarter, compared to analysts’ expectations of $235.93 million. During the same quarter last year, the business posted $0.08 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts expect that Wheaton Precious Metals will post 0.57 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, December 4th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, December 3rd. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 75.00%.

Several large investors have recently made changes to their positions in WPM. Invesco Ltd. raised its position in shares of Wheaton Precious Metals by 123.9% in the 2nd quarter. Invesco Ltd. now owns 5,137,109 shares of the company’s stock worth $124,216,000 after acquiring an additional 2,842,321 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Wheaton Precious Metals in the 3rd quarter worth approximately $53,330,000. Dudley & Shanley Inc. bought a new position in shares of Wheaton Precious Metals in the 3rd quarter worth approximately $41,206,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Wheaton Precious Metals by 50.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,211,766 shares of the company’s stock worth $53,604,000 after acquiring an additional 737,925 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Wheaton Precious Metals by 43.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 2,188,541 shares of the company’s stock worth $57,543,000 after acquiring an additional 658,385 shares in the last quarter. 52.91% of the stock is owned by hedge funds and other institutional investors.

About Wheaton Precious Metals

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.

Further Reading: Sell-Side Analysts

Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

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