Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $66.00 at Berenberg Bank

Wheaton Precious Metals (NYSE:WPM) had its price target upped by Berenberg Bank from $64.00 to $66.00 in a research note published on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

WPM has been the subject of several other research reports. Jefferies Financial Group boosted their price objective on Wheaton Precious Metals from $52.00 to $61.00 and gave the company a buy rating in a report on Monday, April 22nd. Scotiabank boosted their price objective on Wheaton Precious Metals from $59.00 to $66.50 and gave the company an outperform rating in a report on Thursday, May 23rd. BMO Capital Markets boosted their price objective on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an outperform rating in a report on Tuesday, May 21st. CIBC boosted their price objective on Wheaton Precious Metals from $70.00 to $75.00 and gave the company an outperform rating in a report on Wednesday, May 22nd. Finally, Bank of America boosted their price objective on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a buy rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of Moderate Buy and an average price target of $61.50.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $52.42 on Thursday. The stock’s 50 day moving average is $54.23 and its 200 day moving average is $49.40. The firm has a market cap of $23.77 billion, a P/E ratio of 40.32, a P/E/G ratio of 1.84 and a beta of 0.78. Wheaton Precious Metals has a one year low of $38.37 and a one year high of $57.87.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The firm had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The company’s revenue was up 38.7% compared to the same quarter last year. Equities analysts anticipate that Wheaton Precious Metals will post 1.29 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a yield of 1.18%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WPM. Capital International Inc. CA lifted its position in shares of Wheaton Precious Metals by 2.5% during the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after buying an additional 204 shares during the last quarter. Western Pacific Wealth Management LP lifted its position in shares of Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after buying an additional 218 shares during the last quarter. Brookstone Capital Management lifted its position in shares of Wheaton Precious Metals by 5.3% during the 1st quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock valued at $225,000 after buying an additional 240 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Wheaton Precious Metals by 30.8% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock valued at $57,000 after buying an additional 273 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. lifted its position in shares of Wheaton Precious Metals by 2.1% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 13,935 shares of the company’s stock valued at $657,000 after buying an additional 289 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

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.