Wheaton Precious Metals Corp. (NYSE:WPM) Receives $130.78 Average Price Target from Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $130.7778.

Several research analysts have recently commented on WPM shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Raymond James Financial lifted their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. CIBC boosted their price objective on Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Scotiabank restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $115.00 to $130.00 in a research note on Wednesday, December 10th.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors have recently modified their holdings of WPM. Focus Financial Network Inc. raised its position in Wheaton Precious Metals by 2.5% during the 4th quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock valued at $388,000 after purchasing an additional 81 shares during the last quarter. Pacifica Partners Inc. increased its stake in shares of Wheaton Precious Metals by 27.8% during the third quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock valued at $51,000 after buying an additional 100 shares during the period. Miracle Mile Advisors LLC raised its holdings in shares of Wheaton Precious Metals by 0.9% during the third quarter. Miracle Mile Advisors LLC now owns 12,872 shares of the company’s stock valued at $1,440,000 after acquiring an additional 110 shares in the last quarter. AE Wealth Management LLC lifted its stake in Wheaton Precious Metals by 2.1% in the third quarter. AE Wealth Management LLC now owns 6,091 shares of the company’s stock worth $681,000 after acquiring an additional 123 shares during the period. Finally, First Affirmative Financial Network boosted its holdings in Wheaton Precious Metals by 3.5% in the third quarter. First Affirmative Financial Network now owns 3,976 shares of the company’s stock valued at $445,000 after acquiring an additional 133 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $128.44 on Tuesday. Wheaton Precious Metals has a fifty-two week low of $55.51 and a fifty-two week high of $129.99. The firm has a market cap of $58.31 billion, a price-to-earnings ratio of 58.38, a PEG ratio of 1.31 and a beta of 0.52. The firm has a 50 day moving average price of $111.58 and a 200-day moving average price of $103.41.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The firm’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS. As a group, equities research analysts predict that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were given a $0.165 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.5%. Wheaton Precious Metals’s payout ratio is presently 30.00%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.