Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $72.00 at Scotiabank

Wheaton Precious Metals (NYSE:WPM) had its price objective raised by research analysts at Scotiabank from $66.50 to $72.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 18.99% from the company’s current price.

Several other research analysts also recently commented on WPM. Jefferies Financial Group lifted their price objective on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 12th. CIBC boosted their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. TD Securities reduced their price target on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America boosted 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, June 26th. Finally, Berenberg Bank boosted their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus target price of $67.50.

Wheaton Precious Metals Stock Up 2.5 %

Shares of WPM traded up $1.46 during trading hours on Monday, hitting $60.51. The company had a trading volume of 438,517 shares, compared to its average volume of 1,840,306. The firm has a market cap of $27.45 billion, a P/E ratio of 46.47, a P/E/G ratio of 2.14 and a beta of 0.76. The stock’s 50 day moving average price is $56.29 and its 200 day moving average price is $51.76. Wheaton Precious Metals has a 52-week low of $38.37 and a 52-week high of $63.06.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, research analysts expect that Wheaton Precious Metals will post 1.38 EPS for the current fiscal year.

Institutional Trading of Wheaton Precious Metals

A number of hedge funds have recently made changes to their positions in WPM. Ridgewood Investments LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $31,000. Principal Securities Inc. bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $39,000. Sunbelt Securities Inc. bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $47,000. Finally, St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals in the 1st quarter worth approximately $52,000. 70.34% of the stock is owned by institutional investors.

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.