Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $87.00

Wheaton Precious Metals (NYSE:WPM - Get Free Report) had its target price lifted by investment analysts at Scotiabank from $79.00 to $87.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's price target would suggest a potential upside of 3.37% from the company's current price.

A number of other equities research analysts have also commented on the company. Raymond James raised their price objective on Wheaton Precious Metals from $75.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. UBS Group boosted their price objective on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research report on Friday, April 11th. 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, Royal Bank of Canada lifted their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the company a "sector perform" rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of "Buy" and a consensus target price of $83.40.

Wheaton Precious Metals Stock Down 0.7 %

Wheaton Precious Metals stock traded down $0.60 during trading hours on Monday, hitting $84.16. 1,745,316 shares of the company traded hands, compared to its average volume of 1,642,027. The firm's 50-day simple moving average is $73.63 and its two-hundred day simple moving average is $65.58. The firm has a market cap of $38.18 billion, a P/E ratio of 62.81, a P/E/G ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals has a 1-year low of $50.91 and a 1-year high of $86.20.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WPM. Fielder Capital Group LLC grew its position in Wheaton Precious Metals by 0.7% during the fourth quarter. Fielder Capital Group LLC now owns 24,701 shares of the company's stock worth $1,389,000 after buying an additional 176 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Wheaton Precious Metals by 1.5% during the 4th quarter. Signaturefd LLC now owns 11,877 shares of the company's stock worth $668,000 after purchasing an additional 178 shares in the last quarter. Merit Financial Group LLC increased its position in shares of 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 purchasing an additional 179 shares during the period. Principal Financial Group Inc. raised its stake in shares of Wheaton Precious Metals by 1.0% in the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company's stock valued at $1,208,000 after purchasing an additional 196 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position 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 purchasing an additional 216 shares during the period. 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.