Wheaton Precious Metals (NYSE:WPM) Given New $54.00 Price Target at Berenberg Bank

Wheaton Precious Metals (NYSE:WPM) had its target price upped by Berenberg Bank from $52.00 to $54.00 in a research report report published on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Scotiabank reduced their price target on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a sector outperform rating for the company in a research report on Wednesday, February 28th. TD Securities raised Wheaton Precious Metals from a hold rating to a buy rating and boosted their target price for the company from $51.00 to $53.00 in a report on Monday, March 18th. CIBC upped their target price on Wheaton Precious Metals from $66.00 to $70.00 and gave the company an outperform rating in a research report on Wednesday, February 7th. National Bank Financial lowered Wheaton Precious Metals from an outperform rating to a sector perform rating in a research report on Wednesday, February 21st. Finally, Jefferies Financial Group began coverage on Wheaton Precious Metals in a research note on Thursday, February 29th. They issued a buy rating and a $49.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Wheaton Precious Metals currently has an average rating of Moderate Buy and an average target price of $60.81.

Wheaton Precious Metals Trading Up 3.7 %

WPM stock opened at $46.29 on Wednesday. The stock has a market cap of $20.97 billion, a P/E ratio of 38.90, a PEG ratio of 11.66 and a beta of 0.76. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $52.76. The company’s 50 day moving average is $44.54 and its two-hundred day moving average is $45.03.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be paid a $0.155 dividend. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, April 2nd. Wheaton Precious Metals’s payout ratio is currently 50.42%.

Institutional Trading of Wheaton Precious Metals

Several hedge funds have recently made changes to their positions in WPM. CVA Family Office LLC purchased a new position in Wheaton Precious Metals during the fourth quarter worth about $26,000. Atlas Capital Advisors LLC acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at approximately $29,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $31,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Wheaton Precious Metals by 54.7% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock worth $31,000 after acquiring an additional 280 shares during the period. Finally, Mechanics Financial Corp raised its position in Wheaton Precious Metals by 200.0% in the third quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock worth $36,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

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 10, 2017. Wheaton Precious Metals Corp.