Wheaton Precious Metals Corp. (NYSE:WPM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $56.56.

A number of research firms have commented on WPM. National Bank Financial cut shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. Raymond James dropped their price objective on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Thursday, February 22nd. CIBC upped their target price on shares of Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday. Scotiabank dropped their price target on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Berenberg Bank upped their price objective on shares of Wheaton Precious Metals from $54.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday.

Wheaton Precious Metals Price Performance

WPM opened at $56.60 on Thursday. Wheaton Precious Metals has a fifty-two week low of $38.37 and a fifty-two week high of $57.87. The company’s 50 day moving average price is $51.21 and its two-hundred day moving average price is $47.97. The firm has a market capitalization of $25.66 billion, a price-to-earnings ratio of 43.54, a PEG ratio of 7.69 and a beta of 0.75.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $296.80 million during the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. Wheaton Precious Metals’s quarterly revenue was up 38.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, equities research analysts predict that Wheaton Precious Metals will post 1.28 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, May 29th. Wheaton Precious Metals’s payout ratio is 47.69%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several large investors have recently modified their holdings of the stock. CVA Family Office LLC purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Wheaton Precious Metals in the 4th quarter worth about $31,000. Principal Securities Inc. bought a new stake in Wheaton Precious Metals in the 4th quarter valued at about $39,000. Fifth Third Bancorp lifted its holdings in Wheaton Precious Metals by 230.7% during the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after purchasing an additional 602 shares during the last quarter. Finally, St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals during the first quarter worth about $52,000. Hedge funds and other institutional investors 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.