Wheaton Precious Metals Corp. (NYSE:WPM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned an average rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $57.95.

Several brokerages have recently issued reports on WPM. CIBC raised their target price on shares of Wheaton Precious Metals from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, May 22nd. Bank of America raised their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. BMO Capital Markets increased their price target on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Jefferies Financial Group increased their price target on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, Scotiabank increased their price target on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a research report on Thursday, May 23rd.

Institutional Trading of Wheaton Precious Metals

Several hedge funds have recently bought and sold shares of the stock. CVA Family Office LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $26,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $31,000. Principal Securities Inc. acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $39,000. Fifth Third Bancorp raised its holdings in shares of Wheaton Precious Metals by 230.7% in the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after purchasing an additional 602 shares during the last quarter. Finally, St. Johns Investment Management Company LLC acquired a new stake in shares of Wheaton Precious Metals in the first quarter valued at approximately $52,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Up 3.6 %

Shares of NYSE WPM opened at $54.52 on Friday. The firm has a market capitalization of $24.73 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 1.83 and a beta of 0.76. Wheaton Precious Metals has a 1 year low of $38.37 and a 1 year high of $57.87. The firm’s 50-day moving average is $54.30 and its 200-day moving average is $49.53.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company’s revenue for the quarter was up 38.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. As a group, equities research analysts anticipate that Wheaton Precious Metals will post 1.29 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.62 annualized dividend and a yield of 1.14%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 47.69%.

About Wheaton Precious Metals

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.