Wheaton Precious Metals Corp. (NYSE:WPM) Stock Has Average Target Price of $166.00

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $172.11.

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Wheaton Precious Metals from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. UBS Group boosted their price objective on shares of Wheaton Precious Metals from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Bank of America cut their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Jefferies Financial Group reduced their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Finally, Weiss Ratings raised Wheaton Precious Metals from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 9th.

Wheaton Precious Metals Stock Down 4.9%

WPM stock opened at $129.40 on Thursday. Wheaton Precious Metals has a 52 week low of $92.57 and a 52 week high of $165.76. The business has a 50-day simple moving average of $144.36 and a 200 day simple moving average of $131.55. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. The company has a market cap of $58.77 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 2.48 and a beta of 0.54.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The firm had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. During the same period in the prior year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. Sell-side analysts anticipate that Wheaton Precious Metals will post 4.80 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a dividend of $0.1950 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s payout ratio is 17.29%.

Institutional Trading of Wheaton Precious Metals

Large investors have recently bought and sold shares of the business. Parvin Asset Management LLC boosted its holdings in Wheaton Precious Metals by 0.6% in the fourth quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock worth $1,401,000 after acquiring an additional 75 shares in the last quarter. Cornerstone Financial Management LLC grew its stake in Wheaton Precious Metals by 16.5% in the second quarter. Cornerstone Financial Management LLC now owns 565 shares of the company’s stock valued at $63,000 after acquiring an additional 80 shares during the period. J.W. Cole Advisors Inc. grew its stake in Wheaton Precious Metals by 0.8% in the fourth quarter. J.W. Cole Advisors Inc. now owns 11,926 shares of the company’s stock valued at $1,343,000 after acquiring an additional 91 shares during the period. Mather Group LLC. grew its stake in Wheaton Precious Metals by 36.4% in the third quarter. Mather Group LLC. now owns 352 shares of the company’s stock valued at $47,000 after acquiring an additional 94 shares during the period. Finally, Hollencrest Capital Management increased its holdings in shares of Wheaton Precious Metals by 73.5% during the first quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, Canada. Rather than operating mines directly, the company provides mining companies with upfront financing in exchange for the right to purchase a portion of the gold, silver, palladium, cobalt and other metals produced by designated mining operations at predetermined prices.

Wheaton’s streaming portfolio is supported by agreements with mining operations in the Americas and other regions, including Canada, the United States, Mexico, Peru, Brazil and Chile.