Wheaton Precious Metals (NYSE:WPM) Price Target Increased to $57.00 by Analysts at Raymond James

Wheaton Precious Metals (NYSE:WPMFree Report) had its price objective lifted by Raymond James from $56.00 to $57.00 in a report issued on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

WPM has been the topic of a number of other reports. BMO Capital Markets dropped their price target on Wheaton Precious Metals from $58.00 to $57.00 and set an outperform rating on the stock in a research report on Friday, November 10th. StockNews.com initiated coverage on Wheaton Precious Metals in a research report on Thursday, October 5th. They set a hold rating on the stock. Berenberg Bank dropped their price target on Wheaton Precious Metals from $61.00 to $58.00 and set a buy rating on the stock in a research report on Wednesday, October 11th. TheStreet cut Wheaton Precious Metals from a b- rating to a c+ rating in a research report on Friday, November 10th. Finally, National Bank Financial lowered their target price on Wheaton Precious Metals from C$75.00 to C$72.50 in a research report on Monday, September 25th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $61.88.

Check Out Our Latest Report on Wheaton Precious Metals

Wheaton Precious Metals Trading Up 0.3 %

Shares of Wheaton Precious Metals stock opened at $45.88 on Friday. The business’s 50 day simple moving average is $42.70 and its 200-day simple moving average is $43.87. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 3.19 and a beta of 0.59. Wheaton Precious Metals has a twelve month low of $36.49 and a twelve month high of $52.76.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Tuesday, November 28th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Monday, November 27th. Wheaton Precious Metals’s payout ratio is currently 50.42%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPM. Mirae Asset Global Investments Co. Ltd. boosted its stake in Wheaton Precious Metals by 6.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock valued at $301,893,000 after purchasing an additional 361,138 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Wheaton Precious Metals by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 481,497 shares of the company’s stock valued at $22,909,000 after purchasing an additional 4,497 shares in the last quarter. US Bancorp DE boosted its stake in Wheaton Precious Metals by 4.9% during the 1st quarter. US Bancorp DE now owns 11,778 shares of the company’s stock valued at $561,000 after purchasing an additional 551 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Wheaton Precious Metals by 21.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 20,122 shares of the company’s stock worth $957,000 after acquiring an additional 3,535 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Wheaton Precious Metals by 245.5% during the 1st quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after acquiring an additional 1,798,086 shares in the last quarter. 58.51% of the stock is owned by institutional investors.

Wheaton Precious Metals Company Profile

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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 10, 2017. Wheaton Precious Metals Corp.

Further Reading

Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

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