National Bank Financial Upgrades Wheaton Precious Metals (NYSE:WPM) to Outperform

Wheaton Precious Metals (NYSE:WPM) was upgraded by analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a note issued to investors on Thursday, Briefing.com reports.

A number of other equities research analysts have also issued reports on WPM. Scotiabank lifted their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group lifted their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. TD Securities dropped their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. 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 report on Wednesday, June 26th. Finally, CIBC increased their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $69.88.

Wheaton Precious Metals Stock Down 0.3 %

WPM opened at $59.49 on Thursday. The firm has a market capitalization of $26.99 billion, a P/E ratio of 45.76, a PEG ratio of 2.19 and a beta of 0.78. The stock has a fifty day moving average of $60.16 and a 200-day moving average of $56.32. Wheaton Precious Metals has a 12-month low of $38.57 and a 12-month high of $64.82.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $299.06 million during the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $0.31 EPS. On average, analysts expect that Wheaton Precious Metals will post 1.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors have recently modified their holdings of WPM. Ridgewood Investments LLC acquired a new position in Wheaton Precious Metals in the 2nd quarter valued at $31,000. Abich Financial Wealth Management LLC bought a new position in shares of Wheaton Precious Metals in the second quarter worth about $31,000. Sunbelt Securities Inc. bought a new position in shares of Wheaton Precious Metals in the second quarter worth about $47,000. St. Johns Investment Management Company LLC acquired a new position in shares of Wheaton Precious Metals during the 1st quarter worth about $52,000. Finally, Western Pacific Wealth Management LP grew its holdings in Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after buying an additional 218 shares during the last quarter. 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.