Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $90.00

Wheaton Precious Metals (NYSE:WPM - Get Free Report) had its price target increased by Raymond James from $88.00 to $90.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Raymond James' target price indicates a potential upside of 6.94% from the stock's current price. Raymond James also issued estimates for Wheaton Precious Metals' Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.59 EPS, Q3 2025 earnings at $0.64 EPS, Q4 2025 earnings at $0.64 EPS and FY2025 earnings at $2.40 EPS.

Several other research firms also recently weighed in on WPM. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research note on Monday. UBS Group raised their price objective 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. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, Royal Bank of Canada lifted 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 report on Friday, April 4th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $83.40.

Wheaton Precious Metals Trading Down 0.7 %

WPM traded down $0.60 during trading on Tuesday, reaching $84.16. 1,745,316 shares of the company's stock were exchanged, compared to its average volume of 1,642,027. Wheaton Precious Metals has a one year low of $50.91 and a one year high of $86.20. The stock has a market capitalization 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. The firm has a fifty day moving average price of $73.63 and a two-hundred day moving average price of $65.58.

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

Institutional Investors Weigh In On Wheaton Precious Metals

Several large investors have recently bought and sold shares of the business. NBT Bank N A NY increased its holdings in Wheaton Precious Metals by 129.3% during the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after buying an additional 234 shares during the last quarter. Versant Capital Management Inc bought a new position in Wheaton Precious Metals in the 4th quarter worth $29,000. Promus Capital LLC purchased a new position in Wheaton Precious Metals during the fourth quarter valued at $32,000. Princeton Global Asset Management LLC bought a new stake in Wheaton Precious Metals during the first quarter valued at about $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Wheaton Precious Metals during the fourth quarter valued at about $38,000. 70.34% of the stock is currently owned by institutional investors.

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.