Wheaton Precious Metals Corp. (NYSE:WPM) Receives $71.67 Consensus PT from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM) has been assigned an average rating of “Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $71.67.

WPM has been the topic of several recent analyst reports. UBS Group initiated coverage on Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 price target on the stock. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $73.82 on Wednesday. The stock’s 50 day simple moving average is $64.72 and its two-hundred day simple moving average is $62.70. Wheaton Precious Metals has a 1 year low of $43.18 and a 1 year high of $74.93. The company has a market cap of $33.49 billion, a PE ratio of 55.09, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business had revenue of $380.52 million during the quarter, compared to analysts’ expectations of $395.74 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. Equities research analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.165 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.66 annualized dividend and a yield of 0.89%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.16. Wheaton Precious Metals’s dividend payout ratio is 46.27%.

Institutional Trading of Wheaton Precious Metals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in Wheaton Precious Metals by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after acquiring an additional 36,970 shares in the last quarter. Swiss National Bank boosted its position in Wheaton Precious Metals by 0.8% during the 3rd quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock valued at $83,854,000 after acquiring an additional 10,600 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Wheaton Precious Metals during the 3rd quarter valued at $1,287,000. CWA Asset Management Group LLC boosted its position in Wheaton Precious Metals by 19.7% during the 4th quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock valued at $9,196,000 after acquiring an additional 26,924 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in Wheaton Precious Metals by 48.1% during the 3rd quarter. King Luther Capital Management Corp now owns 1,501,037 shares of the company’s stock valued at $91,683,000 after acquiring an additional 487,190 shares in the last quarter. 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.