Jefferies Financial Group Boosts Wheaton Precious Metals (NYSE:WPM) Price Target to $61.00

Wheaton Precious Metals (NYSE:WPM) had its price objective upped by Jefferies Financial Group from $52.00 to $61.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

WPM has been the topic of a number of other research reports. Scotiabank lowered their target price 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. CIBC raised their price objective on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. Raymond James reduced their target price on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a market perform rating for the company in a report on Thursday, February 22nd. TD Securities upgraded shares of Wheaton Precious Metals from a hold rating to a buy rating and increased their price target for the stock from $51.00 to $53.00 in a research report on Monday, March 18th. Finally, National Bank Financial downgraded shares of Wheaton Precious Metals from an outperform rating to a sector perform rating in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Wheaton Precious Metals presently has an average rating of Moderate Buy and a consensus price target of $59.32.

Wheaton Precious Metals Stock Up 0.1 %

Shares of WPM stock opened at $52.55 on Monday. The firm has a market capitalization of $23.82 billion, a PE ratio of 44.16, a P/E/G ratio of 6.90 and a beta of 0.77. The company has a 50 day moving average price of $46.17 and a 200-day moving average price of $46.24. Wheaton Precious Metals has a 52 week low of $38.37 and a 52 week high of $54.30.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, March 14th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $313.47 million during the quarter, compared to the consensus estimate of $284.29 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. Analysts anticipate that Wheaton Precious Metals will post 1.27 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.62 annualized dividend and a dividend yield of 1.18%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 52.10%.

Hedge Funds Weigh In On Wheaton Precious Metals

Institutional investors have recently bought and sold shares of the stock. CVA Family Office LLC purchased a new stake in Wheaton Precious Metals in the 4th quarter worth $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter worth about $31,000. Mechanics Financial Corp boosted its stake in Wheaton Precious Metals by 200.0% during the third quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock valued at $36,000 after buying an additional 600 shares during the last quarter. Principal Securities Inc. purchased a new position in Wheaton Precious Metals during the 4th quarter valued at approximately $39,000. Finally, Fifth Third Bancorp grew its holdings in Wheaton Precious Metals by 230.7% during the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after buying an additional 602 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Company Profile

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.