BMO Capital Markets Raises Wheaton Precious Metals (NYSE:WPM) Price Target to $61.00

Wheaton Precious Metals (NYSE:WPMFree Report) had its price objective lifted by BMO Capital Markets from $59.00 to $61.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the company. Scotiabank decreased their price objective on Wheaton Precious Metals from $60.00 to $59.00 and set a sector outperform rating for the company in a research report on Wednesday, February 28th. National Bank Financial downgraded shares of Wheaton Precious Metals from an outperform rating to a sector perform rating in a report on Wednesday, February 21st. TD Securities upgraded shares of Wheaton Precious Metals from a hold rating to a buy rating and raised their price objective for the company from $51.00 to $53.00 in a research report on Monday, March 18th. CIBC boosted their target price on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group raised their price target on Wheaton Precious Metals from $52.00 to $61.00 and gave the company a buy rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $61.33.

Read Our Latest Stock Report on Wheaton Precious Metals

Wheaton Precious Metals Trading Down 1.6 %

Shares of WPM opened at $55.69 on Tuesday. The company’s 50 day simple moving average is $51.43 and its 200-day simple moving average is $48.02. Wheaton Precious Metals has a 12-month low of $38.37 and a 12-month high of $57.87. The firm has a market cap of $25.25 billion, a PE ratio of 42.84, a price-to-earnings-growth ratio of 2.10 and a beta of 0.75.

Wheaton Precious Metals (NYSE:WPMGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company 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 business posted $0.23 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 38.7% on a year-over-year basis. As a group, equities research analysts forecast that Wheaton Precious Metals will post 1.28 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC increased its position in Wheaton Precious Metals by 1.4% during the 1st quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock worth $1,008,743,000 after purchasing an additional 292,968 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Wheaton Precious Metals by 9.9% in the fourth quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock valued at $1,012,517,000 after buying an additional 1,856,031 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of 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 period. FIL Ltd boosted its position in Wheaton Precious Metals by 5.5% during the fourth quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock worth $525,235,000 after acquiring an additional 550,804 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $387,481,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

About Wheaton Precious Metals

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

Receive News & Ratings for Wheaton Precious Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wheaton Precious Metals and related companies with MarketBeat.com's FREE daily email newsletter.