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

Wheaton Precious Metals Corp. (NYSE:WPM) has earned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $71.67.

WPM has been the topic of several recent research reports. UBS Group started coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 price target on the stock. TD Securities increased their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Raymond James upped their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st.

Institutional Trading of Wheaton Precious Metals

Several institutional investors have recently made changes to their positions in WPM. Versant Capital Management Inc acquired a new position in Wheaton Precious Metals in the fourth quarter valued at $29,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth about $31,000. Laurel Wealth Advisors LLC purchased a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $39,000. GAMMA Investing LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $41,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Wheaton Precious Metals in the second quarter worth $47,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $60.00 on Tuesday. The business has a 50 day moving average price of $59.46 and a 200 day moving average price of $60.58. The company has a market capitalization of $27.22 billion, a P/E ratio of 44.77, a PEG ratio of 1.29 and a beta of 0.76. Wheaton Precious Metals has a 1-year low of $38.57 and a 1-year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same quarter in the previous year, the company posted $0.27 EPS. On average, research analysts expect that Wheaton Precious Metals will post 1.45 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.03%. The ex-dividend date was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

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.