Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $178.00

Wheaton Precious Metals (NYSE:WPM) had its target price upped by Scotiabank from $175.00 to $178.00 in a report issued on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock. Scotiabank also issued estimates for Wheaton Precious Metals’ FY2025 earnings at $2.93 EPS, FY2025 earnings at $2.93 EPS and FY2026 earnings at $4.21 EPS.

WPM has been the topic of several other reports. TD Cowen lifted their price target 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. Jefferies Financial Group restated a “buy” rating and issued a $145.00 price objective on shares of Wheaton Precious Metals in a report on Sunday, December 7th. Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Wall Street Zen upgraded Wheaton Precious Metals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.18.

Wheaton Precious Metals Stock Down 6.3%

NYSE:WPM opened at $128.55 on Monday. Wheaton Precious Metals has a twelve month low of $68.03 and a twelve month high of $165.76. The business has a 50 day moving average price of $143.62 and a two-hundred day moving average price of $120.26. The company has a market cap of $58.37 billion, a P/E ratio of 39.67, a price-to-earnings-growth ratio of 2.05 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.31. The company 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 was up 127.3% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. As a group, analysts anticipate that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a $0.195 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s payout ratio is currently 20.37%.

Institutional Trading of Wheaton Precious Metals

Several hedge funds and other institutional investors have recently modified their holdings of WPM. Nisa Investment Advisors LLC bought a new position in Wheaton Precious Metals in the 3rd quarter valued at about $26,000. Assetmark Inc. boosted its holdings in shares of Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the period. Delta Asset Management LLC TN acquired a new position in shares of Wheaton Precious Metals in the second quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd grew its position 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. Finally, Cary Street Partners Investment Advisory LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $28,000. Institutional investors own 70.34% of the company’s stock.

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.