Wheaton Precious Metals Corp. (NYSE:WPM) Receives $155.45 Consensus Target Price from Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $155.4545.

Several research analysts have commented on WPM shares. Wall Street Zen lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 28th. TD Securities boosted their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price for the company. Finally, Zacks Research lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th.

Wheaton Precious Metals Stock Performance

WPM stock opened at $142.34 on Monday. The firm has a fifty day moving average price of $137.38 and a 200 day moving average price of $128.09. The firm has a market cap of $64.64 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 2.75 and a beta of 0.50. Wheaton Precious Metals has a fifty-two week low of $75.42 and a fifty-two week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.24 by $0.04. The company had revenue of $901.47 million during the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. Wheaton Precious Metals’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. On average, equities analysts predict that Wheaton Precious Metals will post 4.88 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 9th. Stockholders of record on Wednesday, May 27th will be paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is currently 19.70%.

Institutional Trading of Wheaton Precious Metals

A number of large investors have recently made changes to their positions in the stock. Parvin Asset Management LLC raised its holdings in shares of Wheaton Precious Metals by 0.6% in the fourth quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock valued at $1,401,000 after acquiring an additional 75 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in Wheaton Precious Metals by 0.4% in 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 in the last quarter. Concurrent Investment Advisors LLC raised its holdings 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. raised 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 worth $127,000 after purchasing an additional 79 shares in the last quarter. Finally, Focus Financial Network Inc. raised its holdings in Wheaton Precious Metals by 2.5% in the fourth quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock worth $388,000 after purchasing an additional 81 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other 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.