Brokerages Set Wheaton Precious Metals Corp. (NYSE:WPM) PT at $165.55

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $166.00.

A number of research analysts have weighed in on WPM shares. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a research report on Tuesday, July 28th. Jefferies Financial Group dropped their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Scotiabank lowered their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Finally, UBS Group dropped their price objective on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Wheaton Precious Metals in the 4th quarter worth approximately $864,977,000. BlackRock Inc. purchased a new position in shares of Wheaton Precious Metals in the second quarter valued at $581,250,000. Canada Pension Plan Investment Board purchased a new position in shares of Wheaton Precious Metals in the second quarter valued at $351,708,000. Bank of America Corp DE acquired a new stake in Wheaton Precious Metals during the 2nd quarter valued at $328,309,000. Finally, Legal & General Group Plc acquired a new stake in Wheaton Precious Metals during the 2nd quarter valued at $320,838,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $152.14 on Friday. The firm has a market cap of $69.10 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 2.59 and a beta of 0.60. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average is $133.36 and its two-hundred day moving average is $131.39. Wheaton Precious Metals has a 12-month low of $92.57 and a 12-month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The business had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. Research analysts expect that Wheaton Precious Metals will post 4.79 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a dividend of $0.195 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 17.29%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. (NYSE:WPM) is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the future production from specific mining projects at predetermined prices.

Wheaton’s streaming portfolio is primarily focused on gold and silver, with additional exposure to palladium and cobalt through certain agreements.