Wheaton Precious Metals (TSE:WPM) Price Target Raised to C$90.00 at Canaccord Genuity Group

Wheaton Precious Metals (TSE:WPM) had its price target increased by Canaccord Genuity Group from C$80.00 to C$90.00 in a note issued to investors on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential upside of 26.12% from the stock’s previous close.

Several other research analysts have also weighed in on the company. National Bank Financial lowered Wheaton Precious Metals from an “outperform market weight” rating to a “sector perform overweight” rating in a research report on Wednesday, February 21st. National Bankshares lowered Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$75.00 to C$68.00 in a report on Friday, February 23rd. Eight Capital upped their price target on shares of Wheaton Precious Metals from C$82.50 to C$85.00 and gave the company a “buy” rating in a report on Monday. Veritas Investment Research lifted their price objective on Wheaton Precious Metals from C$67.00 to C$84.00 in a research note on Friday, April 12th. Finally, Stifel Nicolaus increased their target price on Wheaton Precious Metals from C$72.00 to C$80.00 and gave the company a “buy” rating in a research note on Friday.

Wheaton Precious Metals Trading Up 1.1 %

Shares of TSE WPM traded up C$0.77 during midday trading on Tuesday, reaching C$71.36. 202,300 shares of the company traded hands, compared to its average volume of 811,757. Wheaton Precious Metals has a 52 week low of C$52.15 and a 52 week high of C$74.72. The firm has a market capitalization of C$32.33 billion, a P/E ratio of 44.61 and a beta of 0.66. The stock’s 50-day moving average is C$63.09.

Wheaton Precious Metals (TSE:WPM) last posted its quarterly earnings data on Thursday, March 14th. The company reported C$0.49 earnings per share for the quarter, topping the consensus estimate of C$0.42 by C$0.07. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.85%. The firm had revenue of C$426.80 million for the quarter, compared to analysts’ expectations of C$381.95 million. As a group, equities analysts anticipate that Wheaton Precious Metals will post 1.5534463 earnings per share for the current fiscal year.

Insider Activity

In other Wheaton Precious Metals news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of Wheaton Precious Metals stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total transaction of C$1,156,052.80. In related news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$62.02, for a total value of C$1,156,052.80. Also, Senior Officer Gary Duncan Brown sold 1,857 shares of Wheaton Precious Metals stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of C$58.96, for a total value of C$109,491.69. Over the last ninety days, insiders have sold 20,664 shares of company stock worth $1,272,782. Company insiders own 0.17% of the company’s stock.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.