Wheaton Precious Metals Corp. (NYSE:WPM) Receives $140.44 Consensus Target Price from Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned an average rating of “Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $140.4444.

WPM has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Scotiabank reaffirmed an “outperform” rating and set a $175.00 price target on shares of Wheaton Precious Metals in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Finally, Zacks Research upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $163.40 on Wednesday. The company has a market cap of $74.19 billion, a P/E ratio of 74.27, a P/E/G ratio of 1.34 and a beta of 0.52. Wheaton Precious Metals has a 52-week low of $66.69 and a 52-week high of $164.39. The firm’s fifty day moving average is $136.94 and its two-hundred day moving average is $115.47.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC purchased a new stake in Wheaton Precious Metals during the 3rd quarter valued at $26,000. Assetmark Inc. boosted its stake in Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the period. Delta Asset Management LLC TN purchased a new stake in shares of Wheaton Precious Metals in the second quarter valued at $27,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in shares of Wheaton Precious Metals during the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

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.