Wheaton Precious Metals (NYSE:WPM) Stock Rating Upgraded by Barclays
Wheaton Precious Metals (NYSE:WPM) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday, MarketBeat reports. The firm currently has a $28.00 price target on the stock, up from their prior price target of $23.00. Barclays‘s target price would suggest a potential upside of 6.59% from the company’s current price. The analysts noted that the move was a valuation call.
Several other equities research analysts have also commented on the company. Standpoint Research lowered Companhia Siderurgica Nacional from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Zacks Investment Research upgraded SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Friday, July 5th. Deutsche Bank set a $81.00 target price on Franco Nevada and gave the company a “hold” rating in a research report on Thursday, July 11th. GMP Securities lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a research report on Tuesday, April 23rd. Finally, Raymond James set a $28.00 target price on Wheaton Precious Metals and gave the company a “buy” rating in a research report on Thursday, March 21st. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Wheaton Precious Metals presently has a consensus rating of “Buy” and a consensus price target of $30.88.
Shares of WPM stock opened at $26.27 on Tuesday. The firm has a market capitalization of $10.77 billion, a PE ratio of 54.73, a price-to-earnings-growth ratio of 9.05 and a beta of -0.01. The company has a 50-day moving average of $23.44. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.23. Wheaton Precious Metals has a 1-year low of $15.08 and a 1-year high of $26.36.
Several institutional investors have recently made changes to their positions in the stock. Koshinski Asset Management Inc. boosted its holdings in Wheaton Precious Metals by 11.5% in the first quarter. Koshinski Asset Management Inc. now owns 13,603 shares of the company’s stock worth $324,000 after acquiring an additional 1,400 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in Wheaton Precious Metals by 11.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,304,607 shares of the company’s stock worth $25,480,000 after acquiring an additional 132,834 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Wheaton Precious Metals by 15.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,694 shares of the company’s stock worth $1,088,000 after acquiring an additional 5,949 shares in the last quarter. Virtu Financial LLC bought a new position in Wheaton Precious Metals in the first quarter worth approximately $529,000. Finally, Squarepoint Ops LLC bought a new position in Wheaton Precious Metals in the fourth quarter worth approximately $1,892,000. Institutional investors own 55.24% of the company’s stock.
About Wheaton Precious Metals
Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.
Read More: Is a Roth IRA right for you?
Receive News & Ratings for Wheaton Precious Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wheaton Precious Metals and related companies with MarketBeat.com's FREE daily email newsletter.