Wheaton Precious Metals Corp. (NYSE:WPM) Receives $161.09 Average Price Target from Analysts

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $161.0909.

WPM has been the topic of a number of recent analyst reports. Bank of America lowered their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Jefferies Financial Group decreased their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Royal Bank Of Canada decreased their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, UBS Group lowered their price objective on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th.

Hedge Funds Weigh In On Wheaton Precious Metals

Institutional investors have recently bought and sold shares of the business. Assetmark Inc. lifted its position in shares of Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC bought a new stake in Wheaton Precious Metals in the 4th quarter valued at $28,000. Cornerstone Planning Group LLC raised its stake in Wheaton Precious Metals by 245.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock valued at $29,000 after acquiring an additional 162 shares during the period. Finally, Navalign LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 0.4%

WPM stock opened at $111.91 on Friday. The business has a 50 day moving average price of $117.15 and a two-hundred day moving average price of $131.63. The company has a market cap of $50.83 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 2.01 and a beta of 0.55. Wheaton Precious Metals has a twelve month low of $90.39 and a twelve month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.04. The firm had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business’s quarterly revenue was up 91.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, equities research analysts anticipate that Wheaton Precious Metals will post 4.73 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a dividend of $0.195 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 19.70%.

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.