Wheaton Precious Metals Corp. (NYSE:WPM) Receives $71.67 Average Target Price from Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has received an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $71.67.

A number of equities analysts have weighed in on WPM shares. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Raymond James upped their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, UBS Group began coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They set a “buy” rating and a $78.00 target price for the company.

Wheaton Precious Metals Trading Up 0.3 %

Shares of WPM stock opened at $56.24 on Friday. The company has a market cap of $25.51 billion, a PE ratio of 41.97, a P/E/G ratio of 1.67 and a beta of 0.75. The company’s fifty day simple moving average is $61.76 and its 200-day simple moving average is $60.11. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. During the same period last year, the company posted $0.27 earnings per share. Equities research analysts expect that Wheaton Precious Metals will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were given a $0.155 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.10%. Wheaton Precious Metals’s payout ratio is 46.27%.

Hedge Funds Weigh In On Wheaton Precious Metals

Several large investors have recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at about $31,000. Sunbelt Securities Inc. acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $47,000. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals in the 3rd quarter worth approximately $48,000. Dunhill Financial LLC boosted its position in Wheaton Precious Metals by 200.9% during the 3rd quarter. Dunhill Financial LLC now owns 1,050 shares of the company’s stock valued at $64,000 after purchasing an additional 701 shares during the period. Finally, First Horizon Advisors Inc. bought a new position in Wheaton Precious Metals during the 3rd quarter worth $67,000. 70.34% of the stock is currently owned by institutional investors.

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.