TD Securities Forecasts Strong Price Appreciation for Wheaton Precious Metals (NYSE:WPM) Stock

Wheaton Precious Metals (NYSE:WPM) had its target price boosted by equities research analysts at TD Securities from $164.00 to $165.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 18.99% from the stock’s previous close.

A number of other research firms have also issued reports on WPM. Jefferies Financial Group reiterated a “buy” rating and set a $145.00 price objective on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $175.00 to $178.00 and gave the stock a “sector outperform” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Finally, UBS Group reissued a “neutral” rating and issued a $158.00 price objective on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.18.

Wheaton Precious Metals Trading Down 0.9%

Shares of WPM traded down $1.20 during midday trading on Monday, reaching $138.67. 1,646,766 shares of the company were exchanged, compared to its average volume of 2,408,749. Wheaton Precious Metals has a 1-year low of $68.03 and a 1-year high of $165.76. The stock has a 50-day moving average price of $142.92 and a 200-day moving average price of $119.65. The company has a market cap of $62.96 billion, a price-to-earnings ratio of 42.78, a P/E/G ratio of 2.09 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, March 12th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.91 by $0.31. The business had revenue of $864.71 million for the quarter, compared to the consensus estimate of $719.59 million. Wheaton Precious Metals had a return on equity of 17.69% and a net margin of 63.58%.The company’s revenue was up 127.3% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. Equities research analysts anticipate that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Parvin Asset Management LLC increased its position in shares of Wheaton Precious Metals by 0.6% in the 4th quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock worth $1,401,000 after purchasing an additional 75 shares during the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Wheaton Precious Metals by 0.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock worth $2,405,000 after purchasing an additional 75 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in Wheaton Precious Metals by 1.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after purchasing an additional 78 shares in the last quarter. Gables Capital Management Inc. increased its holdings in Wheaton Precious Metals by 7.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock valued at $127,000 after buying an additional 79 shares during the last quarter. Finally, Focus Financial Network Inc. raised its stake in Wheaton Precious Metals by 2.5% during the fourth quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock valued at $388,000 after buying an additional 81 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

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.