Wheaton Precious Metals Corp. (NYSE:WPM) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have received an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $172.11.

Several analysts recently commented on WPM shares. Scotiabank reduced their price objective on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group decreased their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday. Finally, UBS Group increased their target price on shares of Wheaton Precious Metals from $153.00 to $160.00 and gave the company a “buy” rating in a report on Thursday.

Hedge Funds Weigh In On Wheaton Precious Metals

Several hedge funds have recently bought and sold shares of WPM. Cornerstone Planning Group LLC lifted its position in shares of Wheaton Precious Metals by 245.5% during the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Hollencrest Capital Management increased its holdings in Wheaton Precious Metals by 73.5% in the first quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. Hickory Point Bank & Trust acquired a new stake in Wheaton Precious Metals during the third quarter valued at approximately $40,000. Bangor Savings Bank acquired a new stake in Wheaton Precious Metals during the third quarter valued at approximately $40,000. Finally, Wellington Altus USA Inc. raised its stake in Wheaton Precious Metals by 446.7% during the second quarter. Wellington Altus USA Inc. now owns 328 shares of the company’s stock valued at $37,000 after buying an additional 268 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $138.20 on Thursday. Wheaton Precious Metals has a one year low of $92.57 and a one year high of $165.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. The business has a fifty day moving average of $143.83 and a two-hundred day moving average of $131.38. The company has a market cap of $62.77 billion, a P/E ratio of 30.64, a price-to-earnings-growth ratio of 2.45 and a beta of 0.54.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue was up 84.7% on a year-over-year basis. As a group, analysts predict that Wheaton Precious Metals will post 4.80 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a $0.1950 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is currently 17.29%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, Canada. Rather than operating mines directly, the company provides mining companies with upfront financing in exchange for the right to purchase a portion of the gold, silver, palladium, cobalt and other metals produced by designated mining operations at predetermined prices.

Wheaton’s streaming portfolio is supported by agreements with mining operations in the Americas and other regions, including Canada, the United States, Mexico, Peru, Brazil and Chile.