Wheaton Precious Metals (NYSE:WPM) Earns Buy Rating from Analysts at UBS Group

UBS Group started coverage on shares of Wheaton Precious Metals (NYSE:WPM) in a research report released on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $78.00 price objective on the stock.

Several other research firms have also issued reports on WPM. Scotiabank increased their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Raymond James boosted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. TD Securities boosted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Stock Up 3.8 %

Shares of WPM opened at $60.90 on Monday. The stock’s 50-day moving average price is $62.81 and its 200 day moving average price is $58.93. Wheaton Precious Metals has a 12-month low of $38.57 and a 12-month high of $68.64. The firm has a market capitalization of $27.63 billion, a price-to-earnings ratio of 45.45, a P/E/G ratio of 2.14 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $308.25 million during the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same period in the prior year, the company posted $0.27 earnings per share. Equities research analysts expect that Wheaton Precious Metals will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is currently 46.27%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WPM. Quent Capital LLC boosted its stake in Wheaton Precious Metals by 136.1% in the first quarter. Quent Capital LLC now owns 5,636 shares of the company’s stock valued at $266,000 after acquiring an additional 3,249 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Wheaton Precious Metals by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock valued at $790,392,000 after purchasing an additional 272,918 shares during the period. O Shaughnessy Asset Management LLC increased its stake in Wheaton Precious Metals by 6.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,817 shares of the company’s stock worth $510,000 after purchasing an additional 656 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Wheaton Precious Metals by 2.8% during the 1st quarter. Clearbridge Investments LLC now owns 705,706 shares of the company’s stock worth $33,260,000 after buying an additional 19,473 shares during the period. Finally, UniSuper Management Pty Ltd lifted its stake in Wheaton Precious Metals by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 6,400 shares of the company’s stock valued at $302,000 after buying an additional 3,200 shares in the last quarter. Institutional investors 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.