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

Wheaton Precious Metals Corp. (NYSE:WPM) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $66.88.

WPM has been the topic of a number of recent analyst reports. TD Securities cut their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Berenberg Bank upped their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Bank of America upped their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, CIBC upped their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WPM. Norges Bank bought a new position in Wheaton Precious Metals in the 4th quarter worth about $387,481,000. TD Asset Management Inc grew its position in Wheaton Precious Metals by 71.2% in the 1st quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock worth $229,026,000 after purchasing an additional 2,019,722 shares during the last quarter. AMF Tjanstepension AB grew its position in Wheaton Precious Metals by 593.5% in the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock worth $84,388,000 after purchasing an additional 1,376,231 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Wheaton Precious Metals by 31.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company’s stock worth $272,975,000 after purchasing an additional 1,342,264 shares during the last quarter. Finally, Barings LLC bought a new position in Wheaton Precious Metals in the 2nd quarter worth about $65,405,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $63.48 on Wednesday. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $64.27. The firm has a market capitalization of $28.79 billion, a P/E ratio of 48.83, a P/E/G ratio of 2.29 and a beta of 0.78. The company’s fifty day moving average price is $59.81 and its two-hundred day moving average price is $55.11.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same quarter in the previous year, the business posted $0.31 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Wheaton Precious Metals will post 1.4 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

About Wheaton Precious Metals

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.