Wheaton Precious Metals (NYSE:WPM) Announces Earnings Results

Wheaton Precious Metals (NYSE:WPM) posted its quarterly earnings data on Thursday. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.31, Briefing.com reports. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. During the same quarter in the prior year, the business posted $0.44 EPS. The firm’s revenue was up 127.3% compared to the same quarter last year.

Wheaton Precious Metals Stock Down 1.8%

WPM traded down $2.72 during trading on Thursday, hitting $145.95. 2,134,366 shares of the company traded hands, compared to its average volume of 2,419,893. Wheaton Precious Metals has a one year low of $68.03 and a one year high of $165.76. The stock’s fifty day moving average is $141.91 and its 200 day moving average is $118.84. The firm has a market cap of $66.27 billion, a P/E ratio of 66.34, a price-to-earnings-growth ratio of 2.26 and a beta of 0.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Triumph Capital Management bought a new position in shares of Wheaton Precious Metals during the 3rd quarter valued at approximately $33,000. Quarry LP bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $34,000. EFG International AG purchased a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $54,000. Greenline Wealth Management LLC purchased a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $62,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Wheaton Precious Metals during the fourth quarter valued at $63,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WPM has been the topic of a number of recent analyst reports. UBS Group reissued a “neutral” rating and set a $158.00 price target on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $115.00 to $130.00 in a research report on Wednesday, December 10th. Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Wheaton Precious Metals in a research note on Monday, January 26th. Finally, Zacks Research lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.44.

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.