Wheaton Precious Metals Corp. (NYSE:WPM) Receives $155.45 Consensus PT from Analysts

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $155.4545.

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 28th. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. TD Cowen upped their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price objective on the stock.

Wheaton Precious Metals Trading Up 2.1%

Shares of WPM opened at $144.77 on Thursday. The company has a market cap of $65.74 billion, a price-to-earnings ratio of 44.68, a PEG ratio of 3.02 and a beta of 0.60. Wheaton Precious Metals has a 1-year low of $75.42 and a 1-year high of $165.76. The company’s fifty day simple moving average is $141.73 and its 200 day simple moving average is $125.23.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, March 12th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 63.58% and a return on equity of 17.17%. The firm’s revenue for the quarter was up 127.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, research analysts forecast that Wheaton Precious Metals will post 4.83 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were issued a $0.195 dividend. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Tuesday, March 31st. Wheaton Precious Metals’s dividend payout ratio is presently 24.07%.

Hedge Funds Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the third quarter valued at $26,000. Assetmark Inc. increased its holdings in shares of Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Wheaton Precious Metals in the fourth quarter valued at $28,000. Finally, Root Financial Partners LLC acquired a new position in shares of Wheaton Precious Metals in the third quarter valued at $29,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.