Wheaton Precious Metals Corp. (NYSE:WPM) Receives $63.56 Average Price Target from Analysts

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $63.56.

Several analysts have issued reports on WPM shares. Scotiabank upped their price objective on 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. Bank of America upped their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. BMO Capital Markets lifted their price objective on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. CIBC increased their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, TD Securities decreased their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 15th.

Wheaton Precious Metals Price Performance

WPM opened at $61.81 on Friday. Wheaton Precious Metals has a 12-month low of $38.37 and a 12-month high of $63.06. The stock has a market capitalization of $28.04 billion, a PE ratio of 47.55, a P/E/G ratio of 2.30 and a beta of 0.76. The firm’s fifty day moving average price is $58.00 and its 200 day moving average price is $52.74.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) 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 business had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same quarter in the prior year, the business posted $0.31 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities research analysts forecast that Wheaton Precious Metals will post 1.39 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of hedge funds have recently made changes to their positions in WPM. Clearbridge Investments LLC increased its position in Wheaton Precious Metals by 90.5% in the 2nd quarter. Clearbridge Investments LLC now owns 1,344,131 shares of the company’s stock valued at $70,461,000 after acquiring an additional 638,425 shares during the period. Cetera Investment Advisers grew its stake in shares of Wheaton Precious Metals by 1.1% in the second quarter. Cetera Investment Advisers now owns 37,659 shares of the company’s stock worth $1,974,000 after purchasing an additional 409 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Wheaton Precious Metals during the second quarter valued at $47,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Wheaton Precious Metals by 5.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 21,207 shares of the company’s stock valued at $1,112,000 after purchasing an additional 1,158 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Wheaton Precious Metals by 382.6% in the second quarter. NewEdge Advisors LLC now owns 29,398 shares of the company’s stock worth $1,541,000 after purchasing an additional 23,306 shares during the period. 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.