Wheaton Precious Metals (NYSE:WPM) PT Raised to $67.00

Wheaton Precious Metals (NYSE:WPM) had its price target boosted by stock analysts at Jefferies Financial Group from $62.00 to $67.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 12.43% from the company’s current price.

Several other equities analysts also recently commented on the company. BMO Capital Markets upped their price objective on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Scotiabank boosted their target price on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Bank of America lifted their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. CIBC lifted their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a report on Wednesday. Finally, Berenberg Bank increased their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $59.59 on Friday. The stock has a market cap of $27.03 billion, a price-to-earnings ratio of 45.84, a PEG ratio of 1.98 and a beta of 0.76. Wheaton Precious Metals has a fifty-two week low of $38.37 and a fifty-two week high of $59.75. The firm’s 50-day simple moving average is $54.84 and its 200 day simple moving average is $49.86.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. During the same period last year, the firm earned $0.23 earnings per share. The firm’s revenue was up 38.7% on a year-over-year basis. On average, sell-side analysts predict that Wheaton Precious Metals will post 1.28 EPS for the current year.

Institutional Trading of Wheaton Precious Metals

Several hedge funds and other institutional investors have recently bought and sold shares of WPM. CVA Family Office LLC purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at about $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $31,000. Principal Securities Inc. purchased a new position in shares of Wheaton Precious Metals in the fourth quarter worth $39,000. Fifth Third Bancorp raised its holdings in Wheaton Precious Metals by 230.7% during the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after buying an additional 602 shares during the last quarter. Finally, St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals in the first quarter worth about $52,000. Hedge funds and other institutional investors 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.