Analysts Set Wheaton Precious Metals Corp. (NYSE:WPM) Price Target at $53.10

Wheaton Precious Metals Corp. (NYSE:WPM) has been given an average rating of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $54.30.

A number of equities analysts have commented on the stock. Berenberg Bank boosted their price target on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Scotiabank cut their price objective on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 28th. Raymond James cut their price objective on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Thursday, February 22nd. CIBC upped their price objective on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and upped their price objective for the company from $51.00 to $53.00 in a research note on Monday, March 18th.

Wheaton Precious Metals Trading Up 1.9 %

Shares of NYSE:WPM opened at $52.48 on Friday. The company has a 50 day moving average of $45.98 and a 200 day moving average of $46.15. The stock has a market cap of $23.79 billion, a P/E ratio of 44.10, a P/E/G ratio of 7.23 and a beta of 0.77. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $54.30.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, March 14th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. The business had revenue of $313.47 million during the quarter, compared to analysts’ expectations of $284.29 million. On average, equities analysts forecast that Wheaton Precious Metals will post 1.24 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were issued a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 1.18%. Wheaton Precious Metals’s dividend payout ratio is 52.10%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WPM. CVA Family Office LLC bought a new position in Wheaton Precious Metals in the 4th quarter worth $26,000. McGlone Suttner Wealth Management Inc. bought a new position in Wheaton Precious Metals in the 4th quarter worth $31,000. Mechanics Financial Corp grew its position in shares of Wheaton Precious Metals by 200.0% in the 3rd quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock worth $36,000 after buying an additional 600 shares during the period. Principal Securities Inc. purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $39,000. Finally, Fifth Third Bancorp grew its position in shares of Wheaton Precious Metals by 230.7% in the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after buying an additional 602 shares during the period. 70.34% of the stock is currently owned by 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.