Wheaton Precious Metals (NYSE:WPM) Stock Rating Lowered by Wall Street Zen

Wall Street Zen lowered shares of Wheaton Precious Metals (NYSE:WPM) from a buy rating to a hold rating in a research note published on Saturday.

Several other analysts have also issued reports on the company. CIBC reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Berenberg Bank upped their target price on Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. National Bankshares reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Royal Bank Of Canada upped their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Friday. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.89.

Wheaton Precious Metals Price Performance

WPM stock opened at $97.40 on Friday. The stock has a market capitalization of $44.22 billion, a P/E ratio of 56.30, a P/E/G ratio of 2.81 and a beta of 0.39. The business has a 50-day moving average of $91.65 and a 200-day moving average of $81.19. Wheaton Precious Metals has a fifty-two week low of $55.47 and a fifty-two week high of $103.81.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $503.22 million during the quarter, compared to analysts’ expectations of $424.23 million. Wheaton Precious Metals had a return on equity of 12.12% and a net margin of 47.46%. Wheaton Precious Metals’s revenue for the quarter was up 68.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. Equities analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a $0.165 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is presently 38.15%.

Hedge Funds Weigh In On Wheaton Precious Metals

Several institutional investors and hedge funds have recently made changes to their positions in WPM. ExodusPoint Capital Management LP acquired a new position in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $721,000. Envestnet Asset Management Inc. grew its position in shares of Wheaton Precious Metals by 10.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 69,139 shares of the company’s stock valued at $3,888,000 after purchasing an additional 6,783 shares during the last quarter. Cerity Partners LLC grew its position in shares of Wheaton Precious Metals by 11.1% in the fourth quarter. Cerity Partners LLC now owns 19,213 shares of the company’s stock valued at $1,102,000 after purchasing an additional 1,923 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $20,790,000. Finally, CenterBook Partners LP grew its position in shares of Wheaton Precious Metals by 118.3% in the fourth quarter. CenterBook Partners LP now owns 17,411 shares of the company’s stock valued at $979,000 after purchasing an additional 9,434 shares during the last quarter. Institutional investors and hedge funds 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.