Wheaton Precious Metals Corp. (NYSE:WPM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $63.56.

Several research analysts recently issued reports on WPM shares. Jefferies Financial Group lifted their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 12th. 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 dropped their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Scotiabank boosted their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, Bank of America increased 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.

Institutional Investors Weigh In On Wheaton Precious Metals

Several large investors have recently added to or reduced their stakes in WPM. Fielder Capital Group LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $1,046,000. King Luther Capital Management Corp purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $6,154,000. Marketfield Asset Management LLC lifted its position in shares of Wheaton Precious Metals by 61.0% during the fourth quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock worth $4,343,000 after acquiring an additional 33,337 shares in the last quarter. Financial Sense Advisors Inc. boosted its holdings in shares of Wheaton Precious Metals by 54.0% in the first quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock worth $2,679,000 after acquiring an additional 19,924 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Wheaton Precious Metals in the first quarter valued at $1,752,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 1.7 %

Shares of WPM stock opened at $61.39 on Friday. The firm has a fifty day simple moving average of $57.67 and a two-hundred day simple moving average of $52.56. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $63.06. The firm has a market capitalization of $27.84 billion, a PE ratio of 47.22, a price-to-earnings-growth ratio of 2.20 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. On average, equities analysts predict that Wheaton Precious Metals will post 1.38 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.01%. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Wheaton Precious Metals Company Profile

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.