Wheaton Precious Metals (NYSE:WPM) Stock Rating Upgraded by Stifel Canada

Wheaton Precious Metals (NYSE:WPM - Get Free Report) was upgraded by analysts at Stifel Canada from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports. Stifel Canada also issued estimates for Wheaton Precious Metals' Q4 2024 earnings at $0.44 EPS, FY2025 earnings at $1.86 EPS and FY2026 earnings at $1.99 EPS.

Several other analysts have also issued reports on WPM. National Bank Financial upgraded Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. UBS Group began coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They set a "buy" rating and a $78.00 target price on the stock. TD Securities upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, Raymond James lifted their price objective 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. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $71.67.

Wheaton Precious Metals Trading Down 1.0 %

Shares of WPM stock traded down $0.65 on Tuesday, hitting $66.22. 1,314,436 shares of the stock were exchanged, compared to its average volume of 1,392,055. The business has a 50-day moving average of $59.66 and a 200 day moving average of $60.80. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The firm has a market capitalization of $30.04 billion, a P/E ratio of 49.42, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company had revenue of $308.25 million during the quarter, compared to analysts' expectations of $324.57 million. During the same period last year, the business earned $0.27 EPS. As a group, research analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers lifted its holdings in Wheaton Precious Metals by 1.1% during the 2nd quarter. Cetera Investment Advisers now owns 37,659 shares of the company's stock worth $1,974,000 after purchasing an additional 409 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth $713,000. SG Americas Securities LLC boosted its position in shares of Wheaton Precious Metals by 363.8% in the third quarter. SG Americas Securities LLC now owns 16,652 shares of the company's stock valued at $1,017,000 after acquiring an additional 13,062 shares during the period. Dynamic Advisor Solutions LLC grew its stake in shares of Wheaton Precious Metals by 8.5% in the third quarter. Dynamic Advisor Solutions LLC now owns 11,373 shares of the company's stock valued at $695,000 after acquiring an additional 893 shares in the last quarter. Finally, Artemis Investment Management LLP increased its position in Wheaton Precious Metals by 110.7% during the third quarter. Artemis Investment Management LLP now owns 116,132 shares of the company's stock worth $7,092,000 after acquiring an additional 61,010 shares during the period. Institutional investors 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.