Wheaton Precious Metals (NYSE:WPM) Given New $165.00 Price Target at TD Cowen

Wheaton Precious Metals (NYSE:WPM) had its price objective hoisted by equities researchers at TD Cowen from $164.00 to $165.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 18.61% from the company’s current price.

WPM has been the subject of several other reports. UBS Group restated a “neutral” rating and issued a $158.00 price target on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Wall Street Zen raised shares of Wheaton Precious Metals from a “buy” rating to a “strong-buy” rating in a report on Saturday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.90.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded down $0.76 during trading hours on Monday, hitting $139.11. The company’s stock had a trading volume of 692,775 shares, compared to its average volume of 2,389,517. The business has a 50 day moving average price of $142.92 and a two-hundred day moving average price of $119.65. Wheaton Precious Metals has a 12-month low of $68.03 and a 12-month high of $165.76. The company has a market cap of $63.16 billion, a PE ratio of 42.89, a PEG ratio of 2.09 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, March 12th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.31. Wheaton Precious Metals had a return on equity of 17.69% and a net margin of 63.58%.The firm had revenue of $864.71 million during the quarter, compared to analyst estimates of $719.59 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The business’s quarterly revenue was up 127.3% compared to the same quarter last year. As a group, research analysts anticipate that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Wheaton Precious Metals during the 4th quarter valued at $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Wheaton Precious Metals by 36.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock worth $777,938,000 after purchasing an additional 1,847,977 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Wheaton Precious Metals by 40.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company’s stock worth $694,951,000 after purchasing an additional 1,715,540 shares during the period. Van ECK Associates Corp lifted its position in shares of Wheaton Precious Metals by 10.7% during the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after purchasing an additional 1,402,092 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Wheaton Precious Metals by 26.1% during the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock worth $722,270,000 after purchasing an additional 1,335,588 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

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.