Wheaton Precious Metals (NYSE:WPM) Given New $64.00 Price Target at Berenberg Bank

Wheaton Precious Metals (NYSE:WPM) had its price target upped by Berenberg Bank from $54.00 to $64.00 in a research report report published on Tuesday, BayStreet.CA reports. Berenberg Bank currently has a buy rating on the stock.

A number of other research analysts have also commented on the company. Scotiabank lowered their price target on Wheaton Precious Metals from $60.00 to $59.00 and set a sector outperform rating on the stock in a report on Wednesday, February 28th. Raymond James dropped their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a market perform rating on the stock in a research report on Thursday, February 22nd. National Bank Financial cut shares of Wheaton Precious Metals from an outperform rating to a sector perform rating in a report on Wednesday, February 21st. Jefferies Financial Group boosted their target price on Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a buy rating in a report on Monday, April 22nd. Finally, CIBC increased their price target on Wheaton Precious Metals from $66.00 to $70.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $61.33.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $56.44 on Tuesday. The firm has a market capitalization of $25.59 billion, a P/E ratio of 43.42, a P/E/G ratio of 2.02 and a beta of 0.75. The company has a 50-day simple moving average of $51.67 and a 200-day simple moving average of $48.10. Wheaton Precious Metals has a one year low of $38.37 and a one year high of $57.87.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The company had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $278.95 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 38.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Wheaton Precious Metals will post 1.28 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio is 47.69%.

Institutional Trading of Wheaton Precious Metals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the first quarter worth about $400,000. Cetera Investment Advisers boosted its stake in Wheaton Precious Metals by 80.1% in the 1st quarter. Cetera Investment Advisers now owns 37,250 shares of the company’s stock worth $1,756,000 after purchasing an additional 16,570 shares during the period. Western Pacific Wealth Management LP grew its position in Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after purchasing an additional 218 shares in the last quarter. Tidal Investments LLC raised its stake in Wheaton Precious Metals by 2,565.0% during the 1st quarter. Tidal Investments LLC now owns 722,829 shares of the company’s stock valued at $34,049,000 after purchasing an additional 695,706 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Wheaton Precious Metals by 5.8% in the first quarter. Janus Henderson Group PLC now owns 91,036 shares of the company’s stock valued at $4,292,000 after purchasing an additional 5,009 shares in the last quarter. Institutional investors and hedge funds own 70.34% 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.