Wheaton Precious Metals (NYSE:WPM) PT Raised to $54.00 at Berenberg Bank

Wheaton Precious Metals (NYSE:WPM) had its price objective boosted by analysts at Berenberg Bank from $52.00 to $54.00 in a report issued on Wednesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price objective would suggest a potential upside of 14.63% from the company’s previous close.

A number of other research analysts have also commented on the stock. CIBC raised their price objective on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Scotiabank cut their price objective on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 28th. BMO Capital Markets lowered their target price on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Raymond James cut their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Thursday, February 22nd. Finally, TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $51.00 to $53.00 in a research note on Monday, March 18th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price of $60.81.

Wheaton Precious Metals Trading Up 1.8 %

Shares of NYSE:WPM opened at $47.11 on Wednesday. The firm’s 50 day moving average is $44.56 and its two-hundred day moving average is $45.04. The firm has a market capitalization of $21.34 billion, a P/E ratio of 39.59, a PEG ratio of 11.60 and a beta of 0.76. Wheaton Precious Metals has a 52 week low of $38.37 and a 52 week high of $52.76.

Institutional Investors Weigh In On Wheaton Precious Metals

Several institutional investors and hedge funds have recently modified their holdings of WPM. Grayhawk Investment Strategies Inc. bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth about $689,000. Vanguard Group Inc. raised its position in shares of Wheaton Precious Metals by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 16,497,557 shares of the company’s stock valued at $813,989,000 after purchasing an additional 294,488 shares during the period. Fisher Asset Management LLC bought a new position in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $247,000. Wellington Management Group LLP lifted its stake in shares of Wheaton Precious Metals by 20.9% in the fourth quarter. Wellington Management Group LLP now owns 86,639 shares of the company’s stock worth $4,295,000 after buying an additional 14,972 shares during the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth $3,347,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Company Profile

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.