Wheaton Precious Metals (NYSE:WPM) had its target price lifted by Raymond James from $57.00 to $60.00 in a research note issued to investors on Wednesday, Price Targets.com reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential upside of 22.65% from the company’s current price. Raymond James also issued estimates for Wheaton Precious Metals’ Q2 2022 earnings at $0.41 EPS, Q3 2022 earnings at $0.43 EPS, Q4 2022 earnings at $0.45 EPS and FY2022 earnings at $1.69 EPS.
WPM has been the topic of several other research reports. TD Securities reaffirmed a “buy” rating and issued a $76.00 target price (up previously from $60.00) on shares of Wheaton Precious Metals in a report on Tuesday, March 16th. Canaccord Genuity reaffirmed a “buy” rating and issued a $82.00 target price on shares of Wheaton Precious Metals in a report on Thursday, March 18th. Royal Bank of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a report on Monday, March 8th. Berenberg Bank reaffirmed a “buy” rating on shares of Wheaton Precious Metals in a report on Wednesday, April 7th. Finally, JPMorgan Chase & Co. began coverage on shares of Wheaton Precious Metals in a report on Wednesday, March 10th. They issued an “overweight” rating and a $56.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $56.83.
Shares of WPM opened at $48.92 on Wednesday. The firm has a market capitalization of $22.02 billion, a PE ratio of 38.22, a PEG ratio of 6.29 and a beta of 0.36. Wheaton Precious Metals has a 1 year low of $34.85 and a 1 year high of $57.89. The stock’s 50-day simple moving average is $44.41.
Several institutional investors and hedge funds have recently made changes to their positions in WPM. Childress Capital Advisors LLC purchased a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $26,000. Allworth Financial LP grew its position in shares of Wheaton Precious Metals by 59.6% during the first quarter. Allworth Financial LP now owns 723 shares of the company’s stock worth $28,000 after acquiring an additional 270 shares during the last quarter. Wagner Wealth Management LLC purchased a new position in shares of Wheaton Precious Metals during the first quarter worth approximately $31,000. Tradewinds Capital Management LLC grew its position in shares of Wheaton Precious Metals by 84.2% during the first quarter. Tradewinds Capital Management LLC now owns 884 shares of the company’s stock worth $34,000 after acquiring an additional 404 shares during the last quarter. Finally, Ameritas Investment Company LLC purchased a new position in Wheaton Precious Metals in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 55.78% of the company’s stock.
About Wheaton Precious Metals
Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects. The company was formerly known as Silver Wheaton Corp.
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