Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $165.00 at Royal Bank Of Canada

Wheaton Precious Metals (NYSE:WPM) had its target price hoisted by equities research analysts at Royal Bank Of Canada from $160.00 to $165.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 11.94% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group reduced their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. UBS Group reduced their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Bank of America decreased their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a research note on Tuesday, July 28th. Finally, Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.00.

Wheaton Precious Metals Price Performance

Shares of WPM stock traded down $2.62 during trading on Wednesday, hitting $147.40. The company had a trading volume of 589,137 shares, compared to its average volume of 2,254,373. The stock’s 50-day moving average price is $131.75 and its 200 day moving average price is $131.57. Wheaton Precious Metals has a one year low of $92.57 and a one year 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 firm has a market capitalization of $66.94 billion, a P/E ratio of 32.73, a price-to-earnings-growth ratio of 2.65 and a beta of 0.60.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The firm had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same period in the prior year, the company posted $0.63 EPS. The company’s revenue was up 84.7% compared to the same quarter last year. Equities analysts expect that Wheaton Precious Metals will post 4.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently modified their holdings of WPM. Cornerstone Planning Group LLC increased its position in Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after buying an additional 162 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Hollencrest Capital Management grew its position in shares of Wheaton Precious Metals by 73.5% during the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in Wheaton Precious Metals in the 4th quarter worth about $28,000. Finally, Leonteq Securities AG bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Company Profile

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.