Brokerages Set Wheaton Precious Metals Corp. (NYSE:WPM) PT at $58.14

Wheaton Precious Metals Corp. (NYSE:WPMGet Rating) has been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $58.14.

Several research firms have issued reports on WPM. KeyCorp upped their price target on shares of Wheaton Precious Metals from $46.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 19th. Barclays upped their price target on shares of Wheaton Precious Metals from $45.00 to $49.00 in a research report on Thursday, April 21st. National Bank Financial upped their price target on shares of Wheaton Precious Metals from C$68.00 to C$75.00 in a research report on Wednesday, April 20th. TD Securities dropped their price objective on shares of Wheaton Precious Metals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, May 9th. Finally, StockNews.com initiated coverage on shares of Wheaton Precious Metals in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.

A number of institutional investors have recently made changes to their positions in WPM. BlackRock Inc. grew its stake in Wheaton Precious Metals by 245.5% during the first quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after buying an additional 1,798,086 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Wheaton Precious Metals by 6.4% in the 4th quarter. Van ECK Associates Corp now owns 22,488,298 shares of the company’s stock valued at $965,425,000 after purchasing an additional 1,347,227 shares in the last quarter. Ruffer LLP boosted its stake in shares of Wheaton Precious Metals by 29.5% in the 4th quarter. Ruffer LLP now owns 5,625,487 shares of the company’s stock valued at $237,137,000 after purchasing an additional 1,282,970 shares in the last quarter. Capital World Investors boosted its stake in shares of Wheaton Precious Metals by 5.2% in the 3rd quarter. Capital World Investors now owns 19,809,661 shares of the company’s stock valued at $744,447,000 after purchasing an additional 974,139 shares in the last quarter. Finally, Bowen Hanes & Co. Inc. boosted its stake in shares of Wheaton Precious Metals by 2,044.8% in the 1st quarter. Bowen Hanes & Co. Inc. now owns 869,620 shares of the company’s stock valued at $41,377,000 after purchasing an additional 829,075 shares in the last quarter. Hedge funds and other institutional investors own 67.90% of the company’s stock.

Wheaton Precious Metals stock opened at $38.25 on Thursday. The stock has a market capitalization of $17.27 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 5.38 and a beta of 0.51. Wheaton Precious Metals has a twelve month low of $36.39 and a twelve month high of $51.90. The company has a 50 day moving average of $43.08 and a 200-day moving average of $43.42.

Wheaton Precious Metals (NYSE:WPMGet Rating) last announced its earnings results on Thursday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Wheaton Precious Metals had a net margin of 63.33% and a return on equity of 9.60%. The business had revenue of $307.24 million during the quarter, compared to analysts’ expectations of $313.27 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. On average, equities research analysts forecast that Wheaton Precious Metals will post 1.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 3rd. Investors of record on Friday, May 20th were paid a $0.15 dividend. The ex-dividend date was Thursday, May 19th. This represents a $0.60 annualized dividend and a dividend yield of 1.57%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 35.93%.

Wheaton Precious Metals Company Profile (Get Rating)

Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.

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