BMO Capital Markets Initiates Coverage on Wheaton Precious Metals (NYSE:WPM)

Investment analysts at BMO Capital Markets started coverage on shares of Wheaton Precious Metals (NYSE:WPM - Get Free Report) in a note issued to investors on Wednesday, MarketBeat reports. The firm set an "outperform" rating and a $129.00 price target on the stock. BMO Capital Markets' target price points to a potential upside of 53.28% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Scotiabank lifted their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research note on Monday. Raymond James upped their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday. Royal Bank of Canada raised their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a report on Friday, April 4th. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Finally, UBS Group increased their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $83.40.

Wheaton Precious Metals Stock Down 0.7 %

Shares of Wheaton Precious Metals stock traded down $0.60 during trading on Wednesday, reaching $84.16. The company's stock had a trading volume of 1,745,316 shares, compared to its average volume of 1,642,027. Wheaton Precious Metals has a 52-week low of $50.91 and a 52-week high of $86.20. The firm's 50-day moving average is $73.63 and its two-hundred day moving average is $65.58. The company has a market cap of $38.18 billion, a price-to-earnings ratio of 62.81, a PEG ratio of 1.91 and a beta of 0.74.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $380.52 million for the quarter, compared to analysts' expectations of $395.74 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business's quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, equities research analysts anticipate that Wheaton Precious Metals will post 1.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Fielder Capital Group LLC increased its stake in shares of Wheaton Precious Metals by 0.7% during the fourth quarter. Fielder Capital Group LLC now owns 24,701 shares of the company's stock valued at $1,389,000 after purchasing an additional 176 shares in the last quarter. Signaturefd LLC increased its position in Wheaton Precious Metals by 1.5% during the 4th quarter. Signaturefd LLC now owns 11,877 shares of the company's stock valued at $668,000 after buying an additional 178 shares in the last quarter. Merit Financial Group LLC raised its stake in Wheaton Precious Metals by 3.9% during the fourth quarter. Merit Financial Group LLC now owns 4,818 shares of the company's stock valued at $271,000 after buying an additional 179 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Wheaton Precious Metals by 1.0% in the third 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. Finally, Pacer Advisors Inc. boosted its holdings in Wheaton Precious Metals by 5.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,027 shares of the company's stock worth $226,000 after acquiring an additional 216 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Company Profile

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.