Wheaton Precious Metals (NYSE:WPM) PT Raised to $61.00 at Jefferies Financial Group

Wheaton Precious Metals (NYSE:WPM) had its price objective boosted by stock analysts at Jefferies Financial Group from $52.00 to $61.00 in a research report issued on Monday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price target suggests a potential upside of 16.23% from the company’s current price.

Several other analysts also recently issued reports on WPM. CIBC boosted their price target on 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 reduced their price target on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 28th. Berenberg Bank boosted their price target on Wheaton Precious Metals from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. TD Securities raised Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $53.00 in a report on Monday, March 18th. Finally, National Bank Financial cut Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.32.

Wheaton Precious Metals Stock Up 1.9 %

NYSE:WPM opened at $52.48 on Monday. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $54.30. The stock’s 50 day moving average price is $45.98 and its two-hundred day moving average price is $46.15. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 44.10, a price-to-earnings-growth ratio of 7.23 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, March 14th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. The company had revenue of $313.47 million during the quarter, compared to the consensus estimate of $284.29 million. As a group, analysts anticipate that Wheaton Precious Metals will post 1.24 earnings per share for the current year.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors have recently modified their holdings of WPM. CVA Family Office LLC acquired a new position in Wheaton Precious Metals in the 4th quarter worth about $26,000. McGlone Suttner Wealth Management Inc. acquired a new position in Wheaton Precious Metals in the 4th quarter worth about $31,000. Principal Securities Inc. acquired a new position in Wheaton Precious Metals in the 4th quarter worth about $39,000. Fifth Third Bancorp increased its holdings in Wheaton Precious Metals by 230.7% in the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after purchasing an additional 602 shares in the last quarter. Finally, Mechanics Financial Corp increased its holdings in Wheaton Precious Metals by 200.0% in the 3rd quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock worth $36,000 after purchasing an additional 600 shares in the last quarter. 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 2017. Wheaton Precious Metals Corp.