Wheaton Precious Metals (NYSE:WPM) Price Target Increased to $70.00 by Analysts at CIBC

Wheaton Precious Metals (NYSE:WPMFree Report) had its price objective raised by CIBC from $66.00 to $70.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the company. TheStreet cut Wheaton Precious Metals from a b- rating to a c+ rating in a report on Friday, November 10th. Raymond James lifted their price target on Wheaton Precious Metals from $57.00 to $60.00 and gave the stock an outperform rating in a research note on Friday, January 12th. Berenberg Bank lowered their price objective on shares of Wheaton Precious Metals from $61.00 to $58.00 and set a buy rating on the stock in a research note on Wednesday, October 11th. Finally, BMO Capital Markets cut their target price on shares of Wheaton Precious Metals from $58.00 to $57.00 and set an outperform rating for the company in a research report on Friday, November 10th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $62.73.

View Our Latest Research Report on WPM

Wheaton Precious Metals Stock Down 0.6 %

Shares of WPM stock opened at $46.65 on Wednesday. The stock’s 50-day moving average price is $48.03 and its 200 day moving average price is $44.92. Wheaton Precious Metals has a 52-week low of $38.37 and a 52-week high of $52.76. The stock has a market capitalization of $21.14 billion, a PE ratio of 39.20, a price-to-earnings-growth ratio of 9.35 and a beta of 0.80.

Wheaton Precious Metals (NYSE:WPMGet Free Report) last issued its earnings results on Thursday, November 9th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $223.14 million for the quarter, compared to analyst estimates of $241.33 million. Wheaton Precious Metals had a net margin of 57.03% and a return on equity of 6.94%. Analysts expect that Wheaton Precious Metals will post 1.11 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 WPM. First Eagle Investment Management LLC boosted its position in shares of Wheaton Precious Metals by 3.2% in the third quarter. First Eagle Investment Management LLC now owns 20,998,263 shares of the company’s stock worth $851,480,000 after acquiring an additional 644,746 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Wheaton Precious Metals by 9.9% during the fourth quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock worth $1,012,517,000 after purchasing an additional 1,856,031 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Wheaton Precious Metals by 1.6% during the third quarter. Vanguard Group Inc. now owns 16,203,069 shares of the company’s stock worth $657,034,000 after purchasing an additional 248,541 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Wheaton Precious Metals by 10.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,585,266 shares of the company’s stock worth $307,583,000 after purchasing an additional 713,381 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Wheaton Precious Metals by 6.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock worth $301,893,000 after purchasing an additional 361,138 shares in the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.

About Wheaton Precious Metals

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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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