Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $75.00

Wheaton Precious Metals (NYSE:WPM) had its price objective upped by equities research analysts at TD Securities from $74.00 to $75.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective indicates a potential upside of 15.71% from the company’s previous close.

A number of other brokerages have also weighed in on WPM. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Raymond James increased their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Scotiabank increased their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.88.

Wheaton Precious Metals Price Performance

WPM stock opened at $64.82 on Friday. Wheaton Precious Metals has a 1-year low of $38.57 and a 1-year high of $68.64. The stock has a market capitalization of $29.40 billion, a P/E ratio of 48.37, a P/E/G ratio of 2.29 and a beta of 0.77. The business has a fifty day moving average price of $62.79 and a 200-day moving average price of $58.62.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business had revenue of $299.06 million during the quarter, compared to analyst estimates of $309.54 million. During the same quarter in the previous year, the firm earned $0.31 EPS. Wheaton Precious Metals’s revenue was up 12.9% on a year-over-year basis. As a group, analysts anticipate that Wheaton Precious Metals will post 1.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. AdvisorNet Financial Inc grew its holdings in Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after buying an additional 190 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Wheaton Precious Metals by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock worth $1,208,000 after acquiring an additional 196 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Wheaton Precious Metals by 0.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock valued at $2,110,000 after acquiring an additional 197 shares during the last quarter. Capital International Inc. CA grew its holdings in shares of Wheaton Precious Metals by 2.5% in the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after purchasing an additional 204 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its position in Wheaton Precious Metals by 1.0% in the third quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock worth $1,318,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

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.