Brokerages Set Wheaton Precious Metals Corp. (NYSE:WPM) Target Price at $140.44

Wheaton Precious Metals Corp. (NYSE:WPM) has earned a consensus rating of “Buy” from the twelve brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $140.4444.

WPM has been the subject of a number of analyst reports. Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Wheaton Precious Metals in a report on Monday, January 26th. Zacks Research upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. UBS Group reiterated a “neutral” rating and set a $158.00 price objective on shares of Wheaton Precious Metals in a report on Friday, January 30th. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $115.00 to $130.00 in a report on Wednesday, December 10th. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th.

Wheaton Precious Metals Trading Up 4.0%

Shares of NYSE WPM opened at $136.20 on Friday. Wheaton Precious Metals has a 1-year low of $66.01 and a 1-year high of $160.36. The company has a 50-day moving average of $125.74 and a two-hundred day moving average of $109.80. The company has a market cap of $61.84 billion, a PE ratio of 61.91, a P/E/G ratio of 1.17 and a beta of 0.52.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.The firm had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. During the same period last year, the company earned $0.34 EPS. The business’s quarterly revenue was up 54.5% compared to the same quarter last year. As a group, equities research analysts forecast that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Wheaton Precious Metals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock worth $2,242,969,000 after purchasing an additional 289,939 shares during the last quarter. Norges Bank acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at about $656,463,000. TD Asset Management Inc boosted its position in Wheaton Precious Metals by 3.5% during the third quarter. TD Asset Management Inc now owns 7,252,054 shares of the company’s stock valued at $811,726,000 after purchasing an additional 244,027 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Wheaton Precious Metals by 36.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock worth $777,938,000 after purchasing an additional 1,847,977 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Wheaton Precious Metals by 26.1% in the 3rd quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after buying an additional 1,335,588 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.