Wheaton Precious Metals Corp. (NYSE:WPM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Wheaton Precious Metals Corp. (NYSE:WPMGet Rating) have received an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $52.43.

A number of brokerages have recently issued reports on WPM. The Goldman Sachs Group began coverage on shares of Wheaton Precious Metals in a research report on Monday, September 12th. They issued a “buy” rating on the stock. TheStreet downgraded shares of Wheaton Precious Metals from a “b” rating to a “c+” rating in a research report on Friday, September 23rd. National Bank Financial cut their price objective on shares of Wheaton Precious Metals from C$68.00 to C$60.00 in a research report on Thursday, October 13th. Canaccord Genuity Group cut their price objective on shares of Wheaton Precious Metals from C$68.00 to C$67.00 in a research report on Friday, August 19th. Finally, Raymond James cut their price objective on shares of Wheaton Precious Metals from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Monday, August 15th.

Institutional Trading of Wheaton Precious Metals

Several large investors have recently bought and sold shares of the stock. Advisor Partners LLC lifted its stake in Wheaton Precious Metals by 4.8% during the 1st quarter. Advisor Partners LLC now owns 5,699 shares of the company’s stock valued at $271,000 after acquiring an additional 263 shares during the period. Independent Advisor Alliance lifted its stake in Wheaton Precious Metals by 3.6% during the 3rd quarter. Independent Advisor Alliance now owns 8,551 shares of the company’s stock valued at $277,000 after acquiring an additional 300 shares during the period. Quadrant Capital Group LLC lifted its stake in Wheaton Precious Metals by 8.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,972 shares of the company’s stock valued at $143,000 after acquiring an additional 310 shares during the period. Cigna Investments Inc. New lifted its stake in Wheaton Precious Metals by 4.0% during the 2nd quarter. Cigna Investments Inc. New now owns 8,501 shares of the company’s stock valued at $306,000 after acquiring an additional 326 shares during the period. Finally, Rational Advisors LLC lifted its stake in Wheaton Precious Metals by 59.2% during the 1st quarter. Rational Advisors LLC now owns 914 shares of the company’s stock valued at $43,000 after acquiring an additional 340 shares during the period. Hedge funds and other institutional investors own 56.62% of the company’s stock.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $37.99 on Friday. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 5.99 and a beta of 0.46. The company’s 50-day simple moving average is $32.59 and its two-hundred day simple moving average is $35.66. Wheaton Precious Metals has a one year low of $28.62 and a one year high of $51.90.

Wheaton Precious Metals (NYSE:WPMGet Rating) last posted its earnings results on Thursday, August 11th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Wheaton Precious Metals had a net margin of 71.79% and a return on equity of 8.35%. The business had revenue of $302.92 million for the quarter, compared to the consensus estimate of $301.00 million. Equities analysts expect that Wheaton Precious Metals will post 1.19 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 21st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, November 18th. Wheaton Precious Metals’s dividend payout ratio is presently 34.09%.

Wheaton Precious Metals Company Profile

(Get Rating)

Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.

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Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

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