Wheaton Precious Metals (NYSE:WPM) Stock Price Expected to Rise, Scotiabank Analyst Says

Wheaton Precious Metals (NYSE:WPM) had its price target boosted by Scotiabank from $78.00 to $79.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 4.59% from the stock’s current price.

Several other equities analysts have also recently commented on WPM. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. UBS Group initiated coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They set a “buy” rating and a $78.00 target price on the stock. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $72.44.

Wheaton Precious Metals Stock Down 0.6 %

WPM stock opened at $75.53 on Monday. Wheaton Precious Metals has a fifty-two week low of $43.18 and a fifty-two week high of $77.44. The firm’s 50-day simple moving average is $65.49 and its 200 day simple moving average is $62.89. The stock has a market cap of $34.27 billion, a PE ratio of 56.37, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $380.52 million during the quarter, compared to analyst estimates of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm’s revenue was up 21.4% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. Equities analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Wheaton Precious Metals

Several hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in shares of Wheaton Precious Metals by 6.4% in the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock worth $1,154,843,000 after purchasing an additional 1,231,999 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Wheaton Precious Metals by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company’s stock worth $994,733,000 after buying an additional 281,123 shares during the period. FMR LLC boosted its holdings in shares of Wheaton Precious Metals by 5.9% in the fourth quarter. FMR LLC now owns 15,529,219 shares of the company’s stock worth $873,995,000 after buying an additional 863,306 shares during the period. Royal Bank of Canada boosted its holdings in shares of Wheaton Precious Metals by 5.0% in the fourth quarter. Royal Bank of Canada now owns 9,424,930 shares of the company’s stock worth $530,057,000 after buying an additional 447,702 shares during the period. Finally, Norges Bank acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $472,648,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Company Profile

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.