Berenberg Bank Increases Wheaton Precious Metals (NYSE:WPM) Price Target to $95.00

Wheaton Precious Metals (NYSE:WPM) had its price target upped by analysts at Berenberg Bank from $87.00 to $95.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s target price points to a potential upside of 4.80% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. CIBC increased their target price on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an “outperformer” rating in a report on Friday, May 9th. Raymond James Financial increased their target price on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 15th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a report on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 target price on the stock. Scotiabank increased their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a report on Monday, April 14th. Finally, Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $93.00.

Wheaton Precious Metals Stock Performance

WPM opened at $90.65 on Thursday. The firm’s fifty day moving average is $86.59 and its two-hundred day moving average is $74.49. The firm has a market cap of $41.15 billion, a PE ratio of 66.65, a price-to-earnings-growth ratio of 2.74 and a beta of 0.46. Wheaton Precious Metals has a twelve month low of $53.05 and a twelve month high of $95.23.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. The company had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The business’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. Equities analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in WPM. Promus Capital LLC acquired a new stake in Wheaton Precious Metals in the 4th quarter valued at $32,000. NBT Bank N A NY increased its stake in Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company’s stock valued at $32,000 after buying an additional 234 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Wheaton Precious Metals in the 4th quarter valued at $38,000. Wealth Preservation Advisors LLC acquired a new stake in Wheaton Precious Metals in the 1st quarter valued at $38,000. Finally, Headlands Technologies LLC increased its stake in Wheaton Precious Metals by 494.9% in the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock valued at $39,000 after buying an additional 579 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.