Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $178.00

Wheaton Precious Metals (NYSE:WPM) had its target price upped by stock analysts at Scotiabank from $175.00 to $178.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 30.20% from the company’s current price. Scotiabank also issued estimates for Wheaton Precious Metals’ FY2025 earnings at $2.93 EPS, FY2025 earnings at $2.93 EPS and FY2026 earnings at $4.21 EPS.

A number of other analysts have also weighed in on WPM. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. TD Cowen boosted their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Financial Group restated a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a report on Sunday, December 7th. UBS Group reiterated a “neutral” rating and set a $158.00 price objective on shares of Wheaton Precious Metals in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.20.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM traded down $3.15 during trading hours on Monday, hitting $136.72. 992,126 shares of the company’s stock traded hands, compared to its average volume of 2,395,309. The firm has a market capitalization of $62.07 billion, a P/E ratio of 42.14, a price-to-earnings-growth ratio of 2.09 and a beta of 0.50. The business has a fifty day moving average price of $142.92 and a 200-day moving average price of $119.65. Wheaton Precious Metals has a 1 year low of $68.03 and a 1 year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.31. Wheaton Precious Metals had a return on equity of 17.69% and a net margin of 63.58%.The firm had revenue of $864.71 million during the quarter, compared to analyst estimates of $719.59 million. During the same period last year, the company earned $0.44 EPS. Wheaton Precious Metals’s quarterly revenue was up 127.3% compared to the same quarter last year. As a group, equities analysts predict that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC purchased a new stake in shares of Wheaton Precious Metals in the 3rd quarter worth approximately $26,000. Assetmark Inc. increased its holdings in Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the period. Delta Asset Management LLC TN bought a new position in Wheaton Precious Metals in the second quarter worth approximately $27,000. Harvest Fund Management Co. Ltd raised its stake in Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after buying an additional 117 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth $28,000. 70.34% of the stock is currently owned by institutional investors.

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.