Wheaton Precious Metals (NYSE:WPM) Coverage Initiated at UBS Group

UBS Group initiated coverage on shares of Wheaton Precious Metals (NYSE:WPM - Free Report) in a report published on Monday, Marketbeat.com reports. The firm issued a buy rating and a $78.00 price target on the stock.

A number of other equities analysts have also issued reports on the stock. Raymond James increased their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Scotiabank boosted their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. Stifel Canada lowered Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. 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, TD Securities upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a "buy" rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $71.67.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM traded up $2.23 during midday trading on Monday, hitting $60.90. 1,820,257 shares of the company's stock were exchanged, compared to its average volume of 1,774,662. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $68.64. The firm has a market cap of $27.63 billion, a P/E ratio of 45.27, a PEG ratio of 2.14 and a beta of 0.77. The stock's 50 day moving average price is $62.76 and its 200-day moving average price is $58.88.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $308.25 million during the quarter, compared to analysts' expectations of $324.57 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. On average, analysts expect that Wheaton Precious Metals will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals's payout ratio is 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

Large investors have recently made changes to their positions in the company. Toronto Dominion Bank increased its holdings in shares of Wheaton Precious Metals by 58.2% in the 3rd quarter. Toronto Dominion Bank now owns 876,342 shares of the company's stock valued at $53,527,000 after purchasing an additional 322,339 shares during the period. Geode Capital Management LLC grew its position in Wheaton Precious Metals by 5.9% during the third quarter. Geode Capital Management LLC now owns 2,002,629 shares of the company's stock valued at $121,939,000 after purchasing an additional 111,769 shares in the last quarter. Barclays PLC increased its stake in Wheaton Precious Metals by 9.9% in the 3rd quarter. Barclays PLC now owns 315,914 shares of the company's stock valued at $19,297,000 after buying an additional 28,485 shares during the period. Continuum Advisory LLC lifted its position in Wheaton Precious Metals by 585.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,672 shares of the company's stock worth $99,000 after buying an additional 1,428 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at $2,337,000. Institutional investors and hedge funds 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.