Wheaton Precious Metals (NYSE:WPM - Free Report) had its price objective lifted by Royal Bank of Canada from $75.00 to $80.00 in a research report sent to investors on Friday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.
WPM has been the subject of several other research reports. Stifel Canada raised Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Buy" and an average target price of $74.50.
Check Out Our Latest Analysis on WPM
Wheaton Precious Metals Trading Up 6.0 %
Shares of NYSE WPM traded up $4.26 during midday trading on Friday, reaching $74.82. The company's stock had a trading volume of 965,538 shares, compared to its average volume of 1,641,827. Wheaton Precious Metals has a fifty-two week low of $49.43 and a fifty-two week high of $80.43. The stock has a 50 day simple moving average of $70.81 and a 200-day simple moving average of $64.48. The stock has a market capitalization of $33.94 billion, a price-to-earnings ratio of 56.24, a PEG ratio of 1.91 and a beta of 0.74.
Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). The business had revenue of $380.52 million for the quarter, compared to analyst estimates of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company's quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. As a group, equities analysts anticipate that Wheaton Precious Metals will post 1.46 EPS for the current year.
Wheaton Precious Metals Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.88%. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 1st. Wheaton Precious Metals's dividend payout ratio is currently 56.90%.
Institutional Investors Weigh In On Wheaton Precious Metals
Hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its position in Wheaton Precious Metals by 6.4% during the fourth 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. Vanguard Group Inc. increased its holdings in shares of Wheaton Precious Metals by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock worth $994,733,000 after purchasing an additional 281,123 shares during the period. FMR LLC raised its position in shares of Wheaton Precious Metals by 5.9% in the fourth quarter. FMR LLC now owns 15,529,219 shares of the company's stock valued at $873,995,000 after buying an additional 863,306 shares in the last quarter. Royal Bank of Canada raised its position in shares of Wheaton Precious Metals by 5.0% in the fourth quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock valued at $530,057,000 after buying an additional 447,702 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $472,648,000. Institutional investors and hedge funds own 70.34% of the company's stock.
About Wheaton Precious Metals
(
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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.
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