Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $165.00 at TD Securities

Wheaton Precious Metals (NYSE:WPM) had its price objective increased by stock analysts at TD Securities from $164.00 to $165.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target suggests a potential upside of 18.99% from the company’s previous close.

WPM has been the subject of a number of other research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $145.00 price objective on shares of Wheaton Precious Metals in a research report on Sunday, December 7th. UBS Group restated a “neutral” rating and issued a $158.00 target price on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Zacks Research lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Royal Bank Of Canada upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $115.00 to $130.00 in a research report on Wednesday, December 10th. Finally, TD Cowen raised their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $145.18.

Wheaton Precious Metals Price Performance

WPM traded down $1.20 during trading hours on Monday, hitting $138.67. 1,646,766 shares of the stock were exchanged, compared to its average volume of 2,408,749. The stock has a market cap of $62.96 billion, a price-to-earnings ratio of 42.78, a price-to-earnings-growth ratio of 2.09 and a beta of 0.50. The stock has a 50-day simple moving average of $142.92 and a 200-day simple moving average of $119.65. Wheaton Precious Metals has a 12 month low of $68.03 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, March 12th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.31. Wheaton Precious Metals had a net margin of 63.58% and a return on equity of 17.69%. The company had revenue of $864.71 million for the quarter, compared to analysts’ expectations of $719.59 million. During the same period in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was up 127.3% compared to the same quarter last year. Sell-side analysts expect that Wheaton Precious Metals will post 1.46 EPS for the current year.

Institutional Investors Weigh In On Wheaton Precious Metals

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Wheaton Precious Metals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock valued at $2,242,969,000 after buying an additional 289,939 shares during the last quarter. Van ECK Associates Corp grew its holdings in Wheaton Precious Metals by 10.7% in the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after buying an additional 1,402,092 shares in the last quarter. Capital International Investors increased its position in Wheaton Precious Metals by 1.2% in the 4th quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock valued at $892,650,000 after acquiring an additional 93,599 shares during the period. Norges Bank acquired a new stake in Wheaton Precious Metals in the 4th quarter valued at approximately $864,977,000. Finally, TD Asset Management Inc raised its stake in Wheaton Precious Metals by 0.5% during the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock valued at $857,598,000 after acquiring an additional 33,221 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. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.