Wheaton Precious Metals (NYSE:WPM) Given New $88.00 Price Target at Raymond James

Wheaton Precious Metals (NYSE:WPM - Free Report) had its target price upped by Raymond James from $75.00 to $88.00 in a research report sent to investors on Friday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada raised their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. Stifel Canada upgraded Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, Scotiabank increased their price target on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of "Buy" and an average price target of $74.50.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock traded up $3.74 on Friday, reaching $74.30. 2,878,898 shares of the company were exchanged, compared to its average volume of 1,649,093. The stock's 50 day moving average price is $70.81 and its 200-day moving average price is $64.48. Wheaton Precious Metals has a 1-year low of $49.43 and a 1-year high of $80.43. The company has a market cap of $33.71 billion, a P/E ratio of 55.45, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74.

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

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.165 dividend. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, April 1st. This represents a $0.66 annualized dividend and a yield of 0.89%. Wheaton Precious Metals's dividend payout ratio is 56.90%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WPM. Norges Bank acquired a new stake in shares of Wheaton Precious Metals during the fourth quarter worth about $472,648,000. Capital International Investors purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at approximately $263,810,000. Arrowstreet Capital Limited Partnership acquired a new stake in Wheaton Precious Metals during the 4th quarter worth approximately $72,657,000. Van ECK Associates Corp lifted its position in Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock worth $1,154,843,000 after acquiring an additional 1,231,999 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Wheaton Precious Metals by 54.4% in the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock valued at $181,227,000 after purchasing an additional 1,135,699 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other 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.