TD Securities Forecasts Strong Price Appreciation for Wheaton Precious Metals (NYSE:WPM) Stock

Wheaton Precious Metals (NYSE:WPM) had its price target lifted by research analysts at TD Securities from $74.00 to $75.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 15.71% from the company’s previous close.

Several other analysts have also issued reports on the company. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Scotiabank upped their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, Raymond James boosted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus price target of $70.88.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $64.82 on Friday. The company has a market capitalization of $29.40 billion, a P/E ratio of 48.37, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. The company’s 50-day moving average is $62.79 and its 200 day moving average is $58.62. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. During the same period in the prior year, the firm earned $0.31 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. As a group, research analysts predict that Wheaton Precious Metals will post 1.44 earnings per share for the current year.

Institutional Trading of Wheaton Precious Metals

Hedge funds and other institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC increased its stake in shares of Wheaton Precious Metals by 1.4% during the first quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock valued at $1,008,743,000 after purchasing an additional 292,968 shares in the last quarter. Van ECK Associates Corp increased its position in Wheaton Precious Metals by 1.0% during the 2nd quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock valued at $1,047,621,000 after buying an additional 197,426 shares in the last quarter. Vanguard Group Inc. raised its stake in Wheaton Precious Metals by 1.7% during the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock valued at $790,392,000 after buying an additional 272,918 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Wheaton Precious Metals by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock worth $344,483,000 after acquiring an additional 1,010,307 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Wheaton Precious Metals by 22.5% during the second quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock valued at $311,920,000 after acquiring an additional 1,092,480 shares in the last quarter. 70.34% of the stock is 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.