Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $165.00

Wheaton Precious Metals (NYSE:WPM) had its price objective raised by Royal Bank Of Canada from $160.00 to $165.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also issued reports on the stock. Scotiabank decreased their target price on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Weiss Ratings downgraded 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 research report on Tuesday, July 28th. Jefferies Financial Group reduced their price target on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Bank of America decreased their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.00.

Wheaton Precious Metals Trading Down 0.8%

Shares of WPM stock opened at $150.93 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. Wheaton Precious Metals has a 1 year low of $92.57 and a 1 year high of $165.76. The stock has a fifty day moving average of $134.18 and a two-hundred day moving average of $131.52. The firm has a market capitalization of $68.55 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The company had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. During the same quarter in the prior year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, research analysts expect that Wheaton Precious Metals will post 4.79 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a dividend of $0.195 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.78 annualized dividend and a yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 17.29%.

Hedge Funds Weigh In On Wheaton Precious Metals

Several hedge funds have recently made changes to their positions in the business. Parvin Asset Management LLC lifted its stake in Wheaton Precious Metals by 0.6% during the fourth quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock valued at $1,401,000 after purchasing an additional 75 shares during the last quarter. Cornerstone Financial Management LLC grew its position in Wheaton Precious Metals by 16.5% in the second quarter. Cornerstone Financial Management LLC now owns 565 shares of the company’s stock worth $63,000 after buying an additional 80 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of Wheaton Precious Metals by 0.8% in the fourth quarter. J.W. Cole Advisors Inc. now owns 11,926 shares of the company’s stock valued at $1,343,000 after buying an additional 91 shares in the last quarter. Hollencrest Capital Management increased its holdings in shares of Wheaton Precious Metals by 73.5% in the first quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock valued at $31,000 after buying an additional 100 shares in the last quarter. Finally, O Domhnaill Enterprises Inc. lifted its position in shares of Wheaton Precious Metals by 0.3% during the 1st quarter. O Domhnaill Enterprises Inc. now owns 31,690 shares of the company’s stock valued at $4,152,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. (NYSE:WPM) is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the future production from specific mining projects at predetermined prices.

Wheaton’s streaming portfolio is primarily focused on gold and silver, with additional exposure to palladium and cobalt through certain agreements.