Wheaton Precious Metals (NYSE:WPM) Price Target Increased to $72.00 by Analysts at Scotiabank

Wheaton Precious Metals (NYSE:WPM) had its price target lifted by Scotiabank from $66.50 to $72.00 in a research report report published on Monday, Benzinga reports. The firm currently has a sector outperform rating on the stock.

Other analysts have also issued research reports about the stock. BMO Capital Markets upped their target price on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an outperform rating in a research note on Tuesday, May 21st. TD Securities decreased their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a buy rating for the company in a research report on Thursday, August 15th. CIBC upped their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an outperformer rating in a research note on Wednesday, July 10th. Berenberg Bank raised their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a buy rating in a research note on Thursday, June 27th. Finally, Bank of America boosted their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a buy rating in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $67.50.

Wheaton Precious Metals Stock Down 1.5 %

Shares of NYSE WPM opened at $60.99 on Monday. The company’s fifty day simple moving average is $56.92 and its 200 day simple moving average is $52.08. Wheaton Precious Metals has a 12-month low of $38.37 and a 12-month high of $63.06. The firm has a market cap of $27.67 billion, a PE ratio of 46.92, a P/E/G ratio of 2.20 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. Wheaton Precious Metals’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, equities analysts predict that Wheaton Precious Metals will post 1.38 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is 47.69%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of large investors have recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in Wheaton Precious Metals in the second quarter worth $31,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Wheaton Precious Metals in the second quarter worth $31,000. Principal Securities Inc. purchased a new position in Wheaton Precious Metals in the fourth quarter worth about $39,000. Sunbelt Securities Inc. bought a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $47,000. Finally, St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the 1st quarter valued at $52,000. Institutional investors own 70.34% of the company’s stock.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.