Wheaton Precious Metals Corp. (NYSE:WPM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Wheaton Precious Metals Corp. (NYSE:WPM) has earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $154.7273.

A number of research analysts have weighed in on the stock. Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group dropped their target price on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday. TD Securities lifted their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, BMO Capital Markets started coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parvin Asset Management LLC increased its holdings in Wheaton Precious Metals by 0.6% in the 4th quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock worth $1,401,000 after acquiring an additional 75 shares in the last quarter. Johnson Investment Counsel Inc. grew its position in shares of Wheaton Precious Metals by 0.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock valued at $2,405,000 after purchasing an additional 75 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Wheaton Precious Metals by 1.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock valued at $494,000 after purchasing an additional 78 shares during the period. Gables Capital Management Inc. increased its stake in shares of Wheaton Precious Metals by 7.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock worth $127,000 after purchasing an additional 79 shares in the last quarter. Finally, Focus Financial Network Inc. increased its stake in shares of Wheaton Precious Metals by 2.5% during the fourth quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock worth $388,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $115.58 on Tuesday. The stock has a market capitalization of $52.49 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.18 and a beta of 0.55. The firm’s 50 day simple moving average is $125.32 and its 200-day simple moving average is $132.67. Wheaton Precious Metals has a 12 month low of $85.59 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. During the same period in the previous year, the business posted $0.55 EPS. The business’s revenue was up 91.7% compared to the same quarter last year. Analysts anticipate that Wheaton Precious Metals will post 4.99 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

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.