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

Wheaton Precious Metals Corp. (NYSE:WPM) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $124.50.

A number of equities analysts have weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. Berenberg Bank raised their price objective on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, September 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Bank of America increased their target price on Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Raymond James Financial raised their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, October 10th.

Institutional Investors Weigh In On Wheaton Precious Metals

Several institutional investors and hedge funds have recently made changes to their positions in WPM. Nisa Investment Advisors LLC bought a new position in Wheaton Precious Metals in the 3rd quarter valued at approximately $26,000. Root Financial Partners LLC purchased a new position in shares of Wheaton Precious Metals in the third quarter worth $29,000. Triumph Capital Management bought a new position in shares of Wheaton Precious Metals during the third quarter valued at $33,000. Bulwark Capital Corp purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at $27,000. Finally, Delta Asset Management LLC TN bought a new stake in Wheaton Precious Metals in the 2nd quarter worth about $27,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 0.3%

Shares of Wheaton Precious Metals stock opened at $99.34 on Monday. The business has a fifty day simple moving average of $103.82 and a two-hundred day simple moving average of $95.99. The firm has a market capitalization of $45.10 billion, a P/E ratio of 57.42, a P/E/G ratio of 1.67 and a beta of 0.38. Wheaton Precious Metals has a 12 month low of $55.47 and a 12 month high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company had revenue of $476.26 million during the quarter, compared to analyst estimates of $495.53 million. During the same period last year, the business earned $0.34 EPS. Wheaton Precious Metals’s quarterly revenue was up 54.5% compared to the same quarter last year. Analysts predict that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.66 annualized dividend and a yield of 0.7%. Wheaton Precious Metals’s payout ratio is 30.00%.

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.