Wheaton Precious Metals (NYSE:WPM) Raised to "Strong-Buy" at BMO Capital Markets

Wheaton Precious Metals (NYSE:WPM - Get Free Report) was upgraded by investment analysts at BMO Capital Markets to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research analysts have also recently commented on the stock. Raymond James upped their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday. UBS Group lifted their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Scotiabank raised their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a report on Monday, April 14th. Stifel Canada upgraded Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, Royal Bank of Canada upped their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $83.40.

Wheaton Precious Metals Price Performance

Shares of WPM traded down $0.60 during midday trading on Tuesday, hitting $84.16. The stock had a trading volume of 1,745,316 shares, compared to its average volume of 1,640,903. Wheaton Precious Metals has a 1 year low of $50.91 and a 1 year high of $86.20. The stock's 50 day moving average is $73.63 and its 200 day moving average is $65.61. The firm has a market cap of $38.18 billion, a PE ratio of 62.81, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $472,648,000. Capital International Investors acquired a new position in Wheaton Precious Metals in the 4th quarter worth approximately $263,810,000. Arrowstreet Capital Limited Partnership purchased a new position in Wheaton Precious Metals during the 4th quarter worth approximately $72,657,000. Van ECK Associates Corp raised its position in Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock worth $1,154,843,000 after buying an additional 1,231,999 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Wheaton Precious Metals by 54.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock valued at $181,227,000 after acquiring an additional 1,135,699 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

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.