Analysts Set Wheaton Precious Metals Corp. (NYSE:WPM) PT at $130.78

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been given a consensus rating of “Buy” by the thirteen brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, ten have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $130.7778.

WPM has been the topic of several analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. Bank of America lifted their price objective on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Berenberg Bank increased their target price on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a report on Friday, September 12th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. Finally, Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $115.00 to $130.00 in a research report on Wednesday.

Wheaton Precious Metals Stock Up 0.3%

NYSE:WPM opened at $117.62 on Friday. The company has a market cap of $53.40 billion, a price-to-earnings ratio of 53.46, a price-to-earnings-growth ratio of 1.74 and a beta of 0.54. Wheaton Precious Metals has a 52 week low of $55.47 and a 52 week high of $120.55. The company has a fifty day simple moving average of $104.06 and a two-hundred day simple moving average of $98.93.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $476.26 million during the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.Wheaton Precious Metals’s revenue was up 54.5% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. On average, analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, November 20th. Wheaton Precious Metals’s payout ratio is currently 30.00%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds and other institutional investors have recently bought and sold shares of WPM. West Family Investments Inc. bought a new position in shares of Wheaton Precious Metals during the second quarter worth about $247,000. Norges Bank acquired a new position in Wheaton Precious Metals during the 2nd quarter valued at about $656,463,000. Louisbourg Investments Inc. grew its position in Wheaton Precious Metals by 72.9% in the 2nd quarter. Louisbourg Investments Inc. now owns 115,846 shares of the company’s stock worth $10,398,000 after purchasing an additional 48,852 shares during the last quarter. B.O.S.S. Retirement Advisors LLC bought a new position in Wheaton Precious Metals in the 2nd quarter worth about $218,000. Finally, Voya Investment Management LLC increased its stake in shares of Wheaton Precious Metals by 18.0% in the first quarter. Voya Investment Management LLC now owns 747,477 shares of the company’s stock valued at $58,026,000 after purchasing an additional 113,835 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.