Analysts Set Wheaton Precious Metals Corp. (NYSE:WPM) Price Target at $165.55

Wheaton Precious Metals Corp. (NYSE:WPM) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $165.5455.

A number of analysts recently issued reports on the company. Royal Bank Of Canada decreased their price objective on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Scotiabank cut their target price on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group reduced their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a report on Monday, July 6th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Finally, UBS Group reduced their price objective on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th.

Hedge Funds Weigh In On Wheaton Precious Metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its stake in shares of Wheaton Precious Metals by 98.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 22,204 shares of the company’s stock worth $2,494,000 after acquiring an additional 11,016 shares in the last quarter. Cidel Asset Management Inc. grew its holdings in Wheaton Precious Metals by 7,896.4% in the second quarter. Cidel Asset Management Inc. now owns 137,538 shares of the company’s stock worth $15,466,000 after purchasing an additional 135,818 shares during the period. NorthRock Partners LLC grew its holdings in Wheaton Precious Metals by 158.6% in the second quarter. NorthRock Partners LLC now owns 4,106 shares of the company’s stock worth $461,000 after purchasing an additional 2,518 shares during the period. Baird Financial Group Inc. increased its stake in shares of Wheaton Precious Metals by 0.3% during the second quarter. Baird Financial Group Inc. now owns 54,266 shares of the company’s stock valued at $6,095,000 after purchasing an additional 137 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Wheaton Precious Metals by 3.9% during the second quarter. Allworth Financial LP now owns 6,972 shares of the company’s stock valued at $783,000 after purchasing an additional 260 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Up 0.4%

Shares of Wheaton Precious Metals stock opened at $150.24 on Friday. The stock has a market capitalization of $68.23 billion, a P/E ratio of 33.31, a P/E/G ratio of 2.65 and a beta of 0.60. Wheaton Precious Metals has a 52-week low of $92.57 and a 52-week high of $165.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. The stock’s 50-day simple moving average is $131.75 and its 200 day simple moving average is $131.57.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The firm had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company’s revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. As a group, research analysts anticipate that Wheaton Precious Metals will post 4.79 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 17.29%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. (NYSE:WPM) is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the future production from specific mining projects at predetermined prices.

Wheaton’s streaming portfolio is primarily focused on gold and silver, with additional exposure to palladium and cobalt through certain agreements.