TD Securities Forecasts Strong Price Appreciation for Wheaton Precious Metals (NYSE:WPM) Stock

Wheaton Precious Metals (NYSE:WPM) had its price objective upped by equities research analysts at TD Securities from $74.00 to $75.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price target points to a potential upside of 15.49% from the stock’s previous close.

Several other brokerages also recently issued reports on WPM. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Raymond James lifted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Jefferies Financial Group boosted their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average target price of $70.88.

Wheaton Precious Metals Stock Performance

Shares of WPM stock traded up $0.53 during trading hours on Friday, hitting $64.94. The company had a trading volume of 1,655,995 shares, compared to its average volume of 1,771,525. Wheaton Precious Metals has a 12 month low of $38.57 and a 12 month high of $68.64. The firm’s fifty day moving average is $62.73 and its 200 day moving average is $58.48. The firm has a market capitalization of $29.46 billion, a price-to-earnings ratio of 51.50, a PEG ratio of 2.29 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share. On average, sell-side analysts expect that Wheaton Precious Metals will post 1.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its holdings in shares of Wheaton Precious Metals by 8.5% in the first quarter. Russell Investments Group Ltd. now owns 878,049 shares of the company’s stock valued at $41,227,000 after purchasing an additional 68,755 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Wheaton Precious Metals during the 1st quarter worth approximately $770,000. Well Done LLC raised its holdings in shares of Wheaton Precious Metals by 173.9% in the third quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after purchasing an additional 24,196 shares during the last quarter. Forge First Asset Management Inc. bought a new stake in shares of Wheaton Precious Metals in the first quarter worth $4,817,000. Finally, Lighthouse Investment Partners LLC acquired a new position in Wheaton Precious Metals during the second quarter worth $1,016,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

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.