Wheaton Precious Metals Corp. (NYSE:WPM) Receives $58.14 Consensus Price Target from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $58.14.

Several analysts have issued reports on WPM shares. Raymond James set a $61.00 target price on Wheaton Precious Metals and gave the stock an “outperform” rating in a research note on Friday, May 6th. StockNews.com assumed coverage on Wheaton Precious Metals in a report on Thursday, March 31st. They issued a “hold” rating for the company. TD Securities decreased their price objective on Wheaton Precious Metals from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, May 9th. KeyCorp increased their target price on Wheaton Precious Metals from $46.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 19th. Finally, Barclays increased their target price on Wheaton Precious Metals from $45.00 to $49.00 in a research note on Thursday, April 21st.

WPM opened at $38.25 on Thursday. The company’s 50 day moving average is $43.08 and its 200-day moving average is $43.42. The company has a market cap of $17.27 billion, a P/E ratio of 22.90, a PEG ratio of 5.38 and a beta of 0.51. Wheaton Precious Metals has a 1-year low of $36.39 and a 1-year high of $51.90.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last released its earnings results on Thursday, May 5th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Wheaton Precious Metals had a return on equity of 9.60% and a net margin of 63.33%. The company had revenue of $307.24 million for the quarter, compared to analysts’ expectations of $313.27 million. During the same period in the previous year, the business posted $0.36 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts predict that Wheaton Precious Metals will post 1.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Friday, May 20th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.57%. Wheaton Precious Metals’s payout ratio is currently 35.93%.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of Wheaton Precious Metals by 245.5% during the first quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after buying an additional 1,798,086 shares during the period. Van ECK Associates Corp raised its stake in Wheaton Precious Metals by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 22,488,298 shares of the company’s stock valued at $965,425,000 after buying an additional 1,347,227 shares in the last quarter. Ruffer LLP raised its stake in Wheaton Precious Metals by 29.5% in the fourth quarter. Ruffer LLP now owns 5,625,487 shares of the company’s stock valued at $237,137,000 after buying an additional 1,282,970 shares in the last quarter. Capital World Investors increased its position in shares of Wheaton Precious Metals by 5.2% during the third quarter. Capital World Investors now owns 19,809,661 shares of the company’s stock worth $744,447,000 after purchasing an additional 974,139 shares in the last quarter. Finally, Bowen Hanes & Co. Inc. increased its position in shares of Wheaton Precious Metals by 2,044.8% during the first quarter. Bowen Hanes & Co. Inc. now owns 869,620 shares of the company’s stock worth $41,377,000 after purchasing an additional 829,075 shares in the last quarter. 67.90% of the stock is owned by hedge funds and other institutional investors.

About Wheaton Precious Metals (Get Rating)

Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.

Featured Articles