Analysts Set Wheaton Precious Metals Corp. (NYSE:WPM) Target Price at $161.09

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $165.5455.

A number of brokerages recently commented on WPM. Jefferies Financial Group lowered their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Weiss Ratings cut shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday. Bank of America lowered their price target on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective for the company.

Hedge Funds Weigh In On Wheaton Precious Metals

Several hedge funds have recently bought and sold shares of the stock. Parvin Asset Management LLC lifted its position 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. increased its position in Wheaton Precious Metals by 0.4% during the 4th 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 stake in Wheaton Precious Metals by 1.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock valued at $494,000 after purchasing an additional 78 shares during the last quarter. Gables Capital Management Inc. raised its stake in Wheaton Precious Metals by 7.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock valued at $127,000 after purchasing an additional 79 shares during the last quarter. Finally, Focus Financial Network Inc. lifted its holdings in Wheaton Precious Metals by 2.5% in the 4th quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock valued at $388,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

WPM opened at $109.34 on Friday. The company has a market cap of $49.66 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 1.98 and a beta of 0.55. Wheaton Precious Metals has a one year low of $90.39 and a one year high of $165.76. The business’s fifty day moving average is $116.50 and its two-hundred day moving average is $131.43.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. The business had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business’s revenue for the quarter was up 91.7% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. On average, analysts predict that Wheaton Precious Metals will post 4.73 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is 19.70%.

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.