Wheaton Precious Metals (NYSE:WPM) Given New C$70.00 Price Target at National Bank Financial

Wheaton Precious Metals (NYSE:WPM – Get Rating) had its target price upped by research analysts at National Bank Financial from C$60.00 to C$70.00 in a research note issued to investors on Friday, The Fly reports.

A number of other research firms have also recently weighed in on WPM. TheStreet raised shares of Wheaton Precious Metals from a “c+” rating to a “b-” rating in a research note on Tuesday, November 22nd. Barclays reduced their target price on shares of Wheaton Precious Metals from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, October 17th. Stifel Nicolaus cut their price objective on shares of Wheaton Precious Metals from C$66.50 to C$64.00 in a report on Wednesday, October 19th. StockNews.com began coverage on shares of Wheaton Precious Metals in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, TD Securities dropped their target price on shares of Wheaton Precious Metals from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, November 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.86.

Wheaton Precious Metals Stock Up 1.1 %

Shares of Wheaton Precious Metals stock opened at $44.53 on Friday. Wheaton Precious Metals has a 52-week low of $28.62 and a 52-week high of $51.90. The company has a 50 day moving average of $39.34 and a 200 day moving average of $35.14. The company has a market capitalization of $20.13 billion, a P/E ratio of 25.30, a P/E/G ratio of 7.59 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). Wheaton Precious Metals had a net margin of 71.79% and a return on equity of 8.35%. The business had revenue of $218.84 million during the quarter, compared to analysts’ expectations of $237.90 million. As a group, research analysts anticipate that Wheaton Precious Metals will post 1.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Addenda Capital Inc. raised its stake in shares of Wheaton Precious Metals by 29.3% during the fourth quarter. Addenda Capital Inc. now owns 465,870 shares of the company’s stock valued at $24,645,000 after purchasing an additional 105,570 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at about $12,884,000. Align Wealth Management LLC acquired a new position in Wheaton Precious Metals during the fourth quarter worth about $110,000. Value Partners Investments Inc. grew its holdings in Wheaton Precious Metals by 3.1% during the fourth quarter. Value Partners Investments Inc. now owns 9,530 shares of the company’s stock worth $372,000 after acquiring an additional 289 shares during the period. Finally, Pure Financial Advisors LLC acquired a new position in Wheaton Precious Metals during the fourth quarter worth about $207,000. 57.01% of the stock is currently owned by institutional investors.

About Wheaton Precious Metals

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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.