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

Wheaton Precious Metals (NYSE:WPM - Free Report) had its target price boosted by TD Securities from $74.00 to $75.00 in a research report released on Friday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. Stifel Canada downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Raymond James increased their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Jefferies Financial Group boosted their price target 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. National Bank Financial raised Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Finally, Scotiabank boosted their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a "sector outperform" rating in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Wheaton Precious Metals has a consensus rating of "Moderate Buy" and an average target price of $70.88.

Wheaton Precious Metals Stock Performance

WPM traded up $0.41 during mid-day trading on Friday, reaching $64.82. The stock had a trading volume of 2,440,415 shares, compared to its average volume of 1,775,140. 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. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64. The firm's fifty day simple moving average is $62.79 and its two-hundred day simple moving average is $58.57.

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

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.96%. Wheaton Precious Metals's dividend payout ratio is 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of Wheaton Precious Metals by 8.5% in the first quarter. Russell Investments Group Ltd. now owns 878,049 shares of the company's stock valued at $41,227,000 after purchasing an additional 68,755 shares during the last quarter. SageView Advisory Group LLC acquired a new position in Wheaton Precious Metals in the 1st quarter valued at $770,000. Well Done LLC increased its position in Wheaton Precious Metals by 173.9% during the 3rd quarter. Well Done LLC now owns 38,108 shares of the company's stock worth $2,328,000 after buying an additional 24,196 shares during the period. Forge First Asset Management Inc. bought a new position in Wheaton Precious Metals during the first quarter worth about $4,817,000. Finally, Lighthouse Investment Partners LLC bought a new position in Wheaton Precious Metals during the second quarter worth about $1,016,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.