Brokerages Set Wheaton Precious Metals Corp. (NYSE:WPM) PT at $71.67

Shares of Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the ten analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $71.67.

Several research firms have recently commented on WPM. UBS Group assumed 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 for the company. Raymond James increased their target price 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. Jefferies Financial Group boosted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. National Bank Financial upgraded shares of Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Finally, Stifel Canada downgraded Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of hedge funds have recently modified their holdings of WPM. Jamison Private Wealth Management Inc. lifted its position in shares of Wheaton Precious Metals by 23.0% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 4,093 shares of the company's stock worth $230,000 after purchasing an additional 766 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Wheaton Precious Metals during the 4th quarter worth about $54,000. Veracity Capital LLC raised its position in Wheaton Precious Metals by 5.2% in the 4th quarter. Veracity Capital LLC now owns 7,082 shares of the company's stock valued at $398,000 after purchasing an additional 348 shares in the last quarter. Fiduciary Family Office LLC purchased a new position in shares of Wheaton Precious Metals in the 4th quarter valued at about $252,000. Finally, XML Financial LLC acquired a new position in shares of Wheaton Precious Metals during the fourth quarter worth about $461,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

WPM stock traded up $1.72 during mid-day trading on Tuesday, reaching $59.49. 1,044,130 shares of the stock traded hands, compared to its average volume of 1,454,228. The business has a 50-day moving average price of $59.45 and a two-hundred day moving average price of $60.52. The stock has a market capitalization of $26.99 billion, a PE ratio of 44.40, a PEG ratio of 1.27 and a beta of 0.76. Wheaton Precious Metals has a one year low of $38.57 and a one year high of $68.64.

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

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were given a $0.155 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.04%. Wheaton Precious Metals's payout ratio is 46.27%.

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.