Wheaton Precious Metals Corp. (NYSE:WPM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $155.6364.

Several research firms have recently issued reports on WPM. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group upgraded Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Friday, March 27th. BMO Capital Markets began coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price objective for the company. TD Securities increased their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, TD Cowen increased their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th.

Institutional Trading of Wheaton Precious Metals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. increased its holdings in Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the period. Harvest Fund Management Co. Ltd raised its stake in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after buying an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in Wheaton Precious Metals during the fourth quarter worth $28,000. Cornerstone Planning Group LLC raised its stake in Wheaton Precious Metals by 245.5% during the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after buying an additional 162 shares during the last quarter. Finally, Navalign LLC bought a new position in Wheaton Precious Metals during the fourth quarter worth $30,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $128.54 on Friday. The company has a market cap of $58.37 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.36 and a beta of 0.51. The firm has a 50 day simple moving average of $134.37 and a 200 day simple moving average of $131.45. Wheaton Precious Metals has a one year low of $85.59 and a one year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm’s revenue was up 91.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, analysts expect that Wheaton Precious Metals will post 4.98 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

About Wheaton Precious Metals

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.