Wheaton Precious Metals (NYSE:WPM) Now Covered by BMO Capital Markets

Investment analysts at BMO Capital Markets started coverage on shares of Wheaton Precious Metals (NYSE:WPM) in a report released on Thursday. The brokerage set an “outperform” rating and a $240.00 price target on the stock. BMO Capital Markets’ target price points to a potential upside of 70.54% from the company’s previous close.

Other analysts have also issued research reports about the stock. TD Cowen lifted their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. 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. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Royal Bank Of Canada upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $155.45.

Wheaton Precious Metals Stock Performance

NYSE:WPM traded up $0.59 during trading on Thursday, reaching $140.73. The company’s stock had a trading volume of 171,418 shares, compared to its average volume of 2,508,655. Wheaton Precious Metals has a 12 month low of $74.24 and a 12 month high of $165.76. The firm has a market cap of $63.90 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 3.43 and a beta of 0.60. The firm has a 50 day moving average of $140.50 and a 200-day moving average of $122.66.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, March 12th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.31. The company had revenue of $864.71 million for the quarter, compared to analysts’ expectations of $719.59 million. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The business’s revenue for the quarter was up 127.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. Equities research analysts forecast that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WPM. Norges Bank purchased a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Wheaton Precious Metals by 36.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock worth $777,938,000 after acquiring an additional 1,847,977 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Wheaton Precious Metals by 40.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company’s stock worth $694,951,000 after acquiring an additional 1,715,540 shares during the period. Van ECK Associates Corp grew its position in shares of Wheaton Precious Metals by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock valued at $1,700,517,000 after purchasing an additional 1,402,092 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Wheaton Precious Metals by 26.1% in the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after purchasing an additional 1,335,588 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

About Wheaton Precious Metals

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.