Wheaton Precious Metals (NYSE:WPM) PT Raised to $66.00

Wheaton Precious Metals (NYSE:WPM) had its price objective hoisted by equities research analysts at Berenberg Bank from $64.00 to $66.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price objective would indicate a potential upside of 25.91% from the company’s current price.

Several other analysts have also recently issued reports on WPM. CIBC increased their target price on Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. TD Securities upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating and raised their price target for the company from $51.00 to $53.00 in a report on Monday, March 18th. Bank of America raised their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday. Scotiabank raised their price target on Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Finally, Jefferies Financial Group raised their price target on Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Wheaton Precious Metals Stock Performance

WPM stock opened at $52.42 on Thursday. Wheaton Precious Metals has a fifty-two week low of $38.37 and a fifty-two week high of $57.87. The business’s 50-day moving average is $54.23 and its two-hundred day moving average is $49.38. The company has a market cap of $23.77 billion, a price-to-earnings ratio of 40.32, a P/E/G ratio of 1.91 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The business’s quarterly revenue was up 38.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 earnings per share. Equities analysts predict that Wheaton Precious Metals will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On Wheaton Precious Metals

Several institutional investors and hedge funds have recently modified their holdings of WPM. Envestnet Asset Management Inc. lifted its holdings in shares of Wheaton Precious Metals by 22.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 74,486 shares of the company’s stock valued at $3,020,000 after buying an additional 13,875 shares during the period. LPL Financial LLC raised its holdings in Wheaton Precious Metals by 2.0% in the 3rd quarter. LPL Financial LLC now owns 174,515 shares of the company’s stock worth $7,077,000 after purchasing an additional 3,461 shares during the period. Mariner LLC increased its stake in Wheaton Precious Metals by 5.8% during the 3rd quarter. Mariner LLC now owns 29,174 shares of the company’s stock worth $1,183,000 after buying an additional 1,598 shares in the last quarter. Stifel Financial Corp increased its stake in Wheaton Precious Metals by 4.8% during the 3rd quarter. Stifel Financial Corp now owns 80,999 shares of the company’s stock worth $3,285,000 after buying an additional 3,730 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new stake in Wheaton Precious Metals during the 3rd quarter worth approximately $214,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.