Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $165.00

Wheaton Precious Metals (NYSE:WPM) had its price objective upped by TD Cowen from $164.00 to $165.00 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Zacks Research lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. UBS Group reissued a “neutral” rating and set a $158.00 target price on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Finally, Wall Street Zen upgraded shares of Wheaton Precious Metals from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price of $145.18.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $128.55 on Monday. Wheaton Precious Metals has a 52-week low of $68.03 and a 52-week high of $165.76. The business’s 50 day simple moving average is $143.62 and its two-hundred day simple moving average is $120.26. The firm has a market cap of $58.37 billion, a P/E ratio of 39.67, a PEG ratio of 2.05 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, March 12th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.91 by $0.31. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The firm had revenue of $864.71 million during the quarter, compared to the consensus estimate of $719.59 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 127.3% on a year-over-year basis. On average, equities analysts forecast that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be paid a $0.195 dividend. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, March 31st. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is currently 20.37%.

Institutional Investors Weigh In On Wheaton Precious Metals

Hedge funds have recently made changes to their positions in the business. John A. Wolfe & Associates Inc. purchased a new position in shares of Wheaton Precious Metals in the 4th quarter worth about $251,000. Corient Private Wealth LLC grew its position in Wheaton Precious Metals by 252.1% during the fourth quarter. Corient Private Wealth LLC now owns 56,640 shares of the company’s stock valued at $6,656,000 after buying an additional 40,555 shares during the period. Bayban purchased a new stake in Wheaton Precious Metals during the fourth quarter worth about $74,000. Caitong International Asset Management Co. Ltd purchased a new stake in Wheaton Precious Metals during the fourth quarter worth about $569,000. Finally, Groupama Asset Managment raised its position in Wheaton Precious Metals by 32.7% in the fourth quarter. Groupama Asset Managment now owns 39,879 shares of the company’s stock worth $4,687,000 after acquiring an additional 9,832 shares during the period. 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.