Wheaton Precious Metals Corp. (NYSE:WPM) Given Consensus Recommendation of “Buy” by Analysts
Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) has been given a consensus rating of “Buy” by the nine brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $58.14.
Several research firms have weighed in on WPM. KeyCorp raised their price target on Wheaton Precious Metals from $46.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, April 19th. Raymond James set a $61.00 price objective on Wheaton Precious Metals and gave the stock an “outperform” rating in a research report on Friday, May 6th. National Bank Financial lifted their price objective on Wheaton Precious Metals from C$68.00 to C$75.00 in a research report on Wednesday, April 20th. TD Securities dropped their price target on Wheaton Precious Metals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, May 9th. Finally, StockNews.com initiated coverage on Wheaton Precious Metals in a research note on Thursday, March 31st. They set a “hold” rating for the company.
Hedge funds have recently added to or reduced their stakes in the company. AE Wealth Management LLC increased its position in shares of Wheaton Precious Metals by 2.1% during the first quarter. AE Wealth Management LLC now owns 10,228 shares of the company’s stock worth $487,000 after acquiring an additional 207 shares during the period. Huntington National Bank boosted its stake in shares of Wheaton Precious Metals by 40.1% during the fourth quarter. Huntington National Bank now owns 873 shares of the company’s stock worth $37,000 after buying an additional 250 shares during the period. Advisor Partners LLC boosted its stake in shares of Wheaton Precious Metals by 4.8% during the first quarter. Advisor Partners LLC now owns 5,699 shares of the company’s stock worth $271,000 after buying an additional 263 shares during the period. Quadrant Capital Group LLC raised its holdings in Wheaton Precious Metals by 9.4% during the fourth quarter. Quadrant Capital Group LLC now owns 3,598 shares of the company’s stock worth $154,000 after purchasing an additional 310 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. raised its holdings in Wheaton Precious Metals by 2.2% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 15,000 shares of the company’s stock worth $644,000 after purchasing an additional 330 shares in the last quarter. 67.90% of the stock is currently owned by hedge funds and other institutional investors.
Wheaton Precious Metals stock opened at $38.86 on Thursday. Wheaton Precious Metals has a 52-week low of $36.39 and a 52-week high of $51.90. The stock’s 50 day moving average price is $44.21 and its two-hundred day moving average price is $43.50. The stock has a market capitalization of $17.54 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 5.83 and a beta of 0.51.
Wheaton Precious Metals (NYSE:WPM – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $307.24 million during the quarter, compared to analyst estimates of $313.27 million. Wheaton Precious Metals had a return on equity of 9.60% and a net margin of 63.33%. Wheaton Precious Metals’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. Sell-side analysts expect that Wheaton Precious Metals will post 1.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 3rd. Investors of record on Friday, May 20th were paid a $0.15 dividend. The ex-dividend date was Thursday, May 19th. This represents a $0.60 dividend on an annualized basis and a yield of 1.54%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 35.93%.
About Wheaton Precious Metals (Get Rating)
Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.
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