Wheaton Precious Metals Corp. (NYSE:WPM) Receives Average Rating of “Buy” from Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been given an average rating of “Buy” by the twelve research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $140.4444.

WPM has been the subject of several recent analyst reports. UBS Group reiterated a “neutral” rating and set a $158.00 price objective on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Scotiabank reissued an “outperform” rating and issued a $175.00 price objective on shares of Wheaton Precious Metals in a research report on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC bought a new stake in Wheaton Precious Metals in the third quarter valued at $26,000. Assetmark Inc. grew its stake in shares of Wheaton Precious Metals by 144.4% in the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the period. Delta Asset Management LLC TN bought a new stake in Wheaton Precious Metals in the 2nd quarter valued at about $27,000. Harvest Fund Management Co. Ltd increased its position in Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after buying an additional 117 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in Wheaton Precious Metals during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $151.60 on Wednesday. The stock’s 50 day moving average is $138.39 and its 200 day moving average is $116.66. Wheaton Precious Metals has a one year low of $68.03 and a one year high of $165.76. The firm has a market cap of $68.83 billion, a P/E ratio of 68.91, a P/E/G ratio of 2.50 and a beta of 0.50.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.