Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $90.00 at Raymond James

Wheaton Precious Metals (NYSE:WPM) had its price target upped by Raymond James from $88.00 to $90.00 in a research report report published on Tuesday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on WPM. Royal Bank of Canada lifted their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, April 4th. Scotiabank lifted their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research report on Monday. UBS Group raised their target price on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $76.60.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $83.39 on Tuesday. The stock has a market cap of $37.83 billion, a P/E ratio of 62.23, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals has a fifty-two week low of $49.71 and a fifty-two week high of $83.63. The stock has a 50 day simple moving average of $72.58 and a two-hundred day simple moving average of $65.13.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $380.52 million during the quarter, compared to analysts’ expectations of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business’s revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. Sell-side analysts predict that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were paid a $0.165 dividend. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a yield of 0.79%. Wheaton Precious Metals’s payout ratio is presently 56.90%.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $20,790,000. Sei Investments Co. boosted its stake in Wheaton Precious Metals by 25.7% during the 4th quarter. Sei Investments Co. now owns 40,769 shares of the company’s stock valued at $2,293,000 after purchasing an additional 8,331 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Wheaton Precious Metals by 19.7% in the 4th quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock worth $9,196,000 after purchasing an additional 26,924 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Wheaton Precious Metals by 9.1% in the 4th quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company’s stock worth $22,442,000 after purchasing an additional 33,256 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Wheaton Precious Metals by 5.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,027 shares of the company’s stock worth $226,000 after purchasing an additional 216 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

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.