Wheaton Precious Metals (NYSE:WPM) Price Target Cut to $54.00

Wheaton Precious Metals (NYSE:WPM – Get Rating) had its price objective reduced by TD Securities from $55.00 to $54.00 in a report issued on Wednesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Barclays boosted their price objective on shares of Wheaton Precious Metals from $40.00 to $42.00 and gave the company an equal weight rating in a report on Monday, January 30th. TheStreet upgraded shares of Wheaton Precious Metals from a c+ rating to a b- rating in a report on Tuesday, November 22nd. National Bank Financial reduced their price objective on shares of Wheaton Precious Metals from C$70.00 to C$68.00 in a report on Tuesday, February 14th. Raymond James decreased their price target on Wheaton Precious Metals from C$52.00 to C$51.00 and set an outperform rating on the stock in a research note on Wednesday, February 22nd. Finally, BMO Capital Markets dropped their price objective on Wheaton Precious Metals from $52.00 to $51.00 and set an outperform rating for the company in a research note on Friday, March 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $54.38.

Wheaton Precious Metals Stock Up 4.4 %

NYSE WPM opened at $45.30 on Wednesday. Wheaton Precious Metals has a 52 week low of $28.62 and a 52 week high of $51.90. The business’s fifty day simple moving average is $43.18 and its 200-day simple moving average is $38.04. The firm has a market cap of $20.49 billion, a PE ratio of 30.61, a P/E/G ratio of 7.61 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last posted its quarterly earnings results on Friday, March 10th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 62.83%. The company had revenue of $236.05 million for the quarter, compared to analysts’ expectations of $241.70 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The firm’s revenue was down 15.1% on a year-over-year basis. Research analysts expect that Wheaton Precious Metals will post 1.16 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Friday, March 24th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, March 23rd. This represents a $0.60 annualized dividend and a dividend yield of 1.32%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 40.54%.

Institutional Trading of Wheaton Precious Metals

Several hedge funds have recently modified their holdings of WPM. Van ECK Associates Corp increased its holdings in Wheaton Precious Metals by 9.0% during the 4th quarter. Van ECK Associates Corp now owns 20,792,506 shares of the company’s stock worth $812,564,000 after purchasing an additional 1,712,152 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Wheaton Precious Metals by 4.3% in the 4th quarter. First Eagle Investment Management LLC now owns 20,234,007 shares of the company’s stock valued at $790,745,000 after buying an additional 831,221 shares during the period. Vanguard Group Inc. grew its position in shares of Wheaton Precious Metals by 3.3% during the third quarter. Vanguard Group Inc. now owns 15,310,279 shares of the company’s stock worth $495,440,000 after buying an additional 485,237 shares in the last quarter. FMR LLC increased its stake in shares of Wheaton Precious Metals by 5.3% during the second quarter. FMR LLC now owns 14,161,430 shares of the company’s stock worth $510,260,000 after buying an additional 707,233 shares during the period. Finally, Royal Bank of Canada raised its holdings in Wheaton Precious Metals by 4.8% in the third quarter. Royal Bank of Canada now owns 10,166,789 shares of the company’s stock valued at $328,999,000 after acquiring an additional 464,829 shares in the last quarter. 57.01% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Company Profile

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Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.