Wheaton Precious Metals Corp. (NYSE:WPM) Receives $155.45 Average Price Target from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $155.4545.

A number of brokerages have weighed in on WPM. Scotiabank increased their target price on shares of Wheaton Precious Metals from $175.00 to $178.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 16th. TD Cowen raised their target price 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, March 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, TD Securities lifted their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th.

Institutional Trading of Wheaton Precious Metals

Several large investors have recently added to or reduced their stakes in WPM. AQR Capital Management LLC bought a new stake in Wheaton Precious Metals in the first quarter valued at $331,000. Focus Partners Wealth raised its position in shares of Wheaton Precious Metals by 10.7% in the 1st quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock worth $871,000 after purchasing an additional 1,081 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Wheaton Precious Metals in the 1st quarter worth about $209,000. Sivia Capital Partners LLC purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter worth about $239,000. Finally, Rhumbline Advisers raised its position in shares of Wheaton Precious Metals by 28.3% in the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after purchasing an additional 652 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 5.5%

Shares of NYSE:WPM opened at $152.73 on Thursday. The firm has a market capitalization of $69.35 billion, a PE ratio of 47.14, a P/E/G ratio of 3.27 and a beta of 0.60. Wheaton Precious Metals has a twelve month low of $75.42 and a twelve month high of $165.76. The company has a 50-day moving average price of $141.76 and a two-hundred day moving average price of $124.50.

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 firm had revenue of $864.71 million during the quarter, compared to analyst estimates of $719.59 million. Wheaton Precious Metals had a net margin of 63.58% and a return on equity of 17.17%. The company’s quarterly revenue was up 127.3% on a year-over-year basis. During the same quarter last year, the business earned $0.44 earnings per share. Analysts anticipate that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were issued a $0.195 dividend. This is a positive change 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 (DPR) is 24.07%.

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.