Wheaton Precious Metals Corp. (NYSE:WPM) Receives $124.50 Consensus Price Target from Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $124.50.

Several equities research analysts recently weighed in on WPM shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Thursday, November 13th. Bank of America boosted their price target on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Scotiabank reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. Raymond James Financial boosted their target price on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC purchased a new stake in Wheaton Precious Metals during the 3rd quarter worth about $26,000. Bulwark Capital Corp acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth about $27,000. Delta Asset Management LLC TN purchased a new stake in Wheaton Precious Metals during the second quarter worth approximately $27,000. Root Financial Partners LLC acquired a new position in Wheaton Precious Metals in the third quarter valued at approximately $29,000. Finally, Triumph Capital Management purchased a new position in Wheaton Precious Metals in the third quarter valued at approximately $33,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Up 0.9%

WPM opened at $103.98 on Monday. The stock’s 50-day moving average price is $104.13 and its 200 day moving average price is $95.86. Wheaton Precious Metals has a 12-month low of $55.47 and a 12-month high of $114.36. The firm has a market cap of $47.21 billion, a price-to-earnings ratio of 60.11, a PEG ratio of 1.67 and a beta of 0.38.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $476.26 million during the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.Wheaton Precious Metals’s revenue was up 54.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. On average, research analysts forecast that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.66 annualized dividend and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 30.00%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.