Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $165.00

Wheaton Precious Metals (NYSE:WPM) had its target price boosted by TD Securities from $164.00 to $165.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on WPM. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th. Wall Street Zen raised Wheaton Precious Metals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. UBS Group reiterated a “neutral” rating and issued a $158.00 price target on shares of Wheaton Precious Metals in a report on Friday, January 30th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.18.

Wheaton Precious Metals Trading Down 6.3%

Shares of NYSE:WPM opened at $128.55 on Monday. The company has a 50-day moving average price of $143.62 and a 200-day moving average price of $120.26. The company has a market cap of $58.37 billion, a price-to-earnings ratio of 39.67, a price-to-earnings-growth ratio of 2.05 and a beta of 0.50. Wheaton Precious Metals has a 12 month low of $68.03 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.31. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The company had revenue of $864.71 million for the quarter, compared to analysts’ expectations of $719.59 million. During the same period last year, the firm earned $0.44 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 127.3% on a year-over-year basis. As a group, research analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a dividend of $0.195 per share. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is 20.37%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. grew its holdings in shares of Wheaton Precious Metals by 9.4% during the third quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company’s stock valued at $89,886,000 after buying an additional 69,496 shares during the last quarter. J. Safra Sarasin Holding AG increased its holdings in shares of Wheaton Precious Metals by 38.5% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock worth $7,659,000 after purchasing an additional 19,050 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Wheaton Precious Metals in the third quarter worth $11,355,000. West Family Investments Inc. bought a new position in shares of Wheaton Precious Metals during the second quarter valued at $247,000. Finally, Norges Bank bought a new position in shares of Wheaton Precious Metals during the second quarter valued at $656,463,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

About Wheaton Precious Metals

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.