Zacks Investment Research Upgrades Wheaton Precious Metals (WPM) to “Hold”

Zacks Investment Research upgraded shares of Wheaton Precious Metals (NYSE:WPM) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Wheaton Precious Metals Corp. operates as a silver and gold streaming company. Wheaton Precious Metals Corp, formerly known as Silver Wheaton Corp, is headquartered in Vancouver, Canada. “

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Several other research firms also recently weighed in on WPM. Royal Bank of Canada set a $26.00 target price on shares of Wheaton Precious Metals and gave the stock a buy rating in a research note on Monday, January 15th. Desjardins reiterated a buy rating on shares of Wheaton Precious Metals in a research note on Monday, December 11th. Finally, TD Securities set a $28.00 target price on shares of Wheaton Precious Metals and gave the stock a buy rating in a research note on Friday, November 24th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $26.00.

WPM stock opened at $20.40 on Wednesday. The firm has a market cap of $8,913.91, a PE ratio of 156.92, a PEG ratio of 6.54 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.80 and a quick ratio of 5.80. Wheaton Precious Metals has a 12 month low of $18.32 and a 12 month high of $22.72.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Wednesday, March 21st. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The firm had revenue of $242.50 million during the quarter, compared to the consensus estimate of $217.84 million. Wheaton Precious Metals had a net margin of 6.84% and a return on equity of 5.53%. The company’s revenue was down 6.2% compared to the same quarter last year. equities research analysts expect that Wheaton Precious Metals will post 0.62 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Friday, April 6th will be given a $0.09 dividend. The ex-dividend date is Thursday, April 5th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.76%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 276.92%.

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in shares of Wheaton Precious Metals by 118.4% in the third quarter. SG Americas Securities LLC now owns 16,045 shares of the company’s stock valued at $306,000 after acquiring an additional 8,699 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Wheaton Precious Metals by 31.6% in the third quarter. Russell Investments Group Ltd. now owns 1,283,499 shares of the company’s stock valued at $24,502,000 after acquiring an additional 307,951 shares during the period. Swiss National Bank boosted its position in shares of Wheaton Precious Metals by 0.7% in the fourth quarter. Swiss National Bank now owns 4,034,900 shares of the company’s stock valued at $89,275,000 after acquiring an additional 26,100 shares during the period. Mad River Investors boosted its position in shares of Wheaton Precious Metals by 1.1% in the fourth quarter. Mad River Investors now owns 243,150 shares of the company’s stock valued at $5,381,000 after acquiring an additional 2,650 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Wheaton Precious Metals by 17.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 80,943 shares of the company’s stock valued at $1,791,000 after acquiring an additional 11,962 shares during the period. Institutional investors own 52.33% of the company’s stock.

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About Wheaton Precious Metals

Wheaton Precious Metals Corp, formerly Silver Wheaton Corp, is a Canada-based pure precious metals streaming company engaged in the sale of silver and gold. The Company operates through eight segments: the silver produced by the San Dimas, Penasquito and Antamina mines, the gold produced by the Sudbury and Salobo mines, the silver and gold produced by the Constancia mine and the Other mines, and corporate operations.

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Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

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