Wheaton Precious Metals Corp. (NYSE:WPM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM) has earned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $155.6364.

Several equities research analysts have commented on the company. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday. TD Cowen raised their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Finally, Scotiabank upped their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Wheaton Precious Metals in the 4th quarter worth approximately $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 valued at $777,938,000 after purchasing an additional 1,847,977 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position 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 purchasing an additional 1,715,540 shares during the period. Van ECK Associates Corp boosted 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 worth $1,700,517,000 after purchasing an additional 1,402,092 shares during the period. Finally, Bank of Montreal Can increased its stake 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 worth $722,270,000 after purchasing an additional 1,335,588 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $130.37 on Monday. The firm has a market cap of $59.20 billion, a P/E ratio of 32.92, a P/E/G ratio of 2.69 and a beta of 0.50. Wheaton Precious Metals has a 1 year low of $76.77 and a 1 year high of $165.76. The stock has a 50 day simple moving average of $136.66 and a two-hundred day simple moving average of $128.39.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. The company had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm’s revenue was up 91.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. On average, equities analysts anticipate that Wheaton Precious Metals will post 4.87 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 19.70%.

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.