Wheaton Precious Metals Corp. (NYSE:WPM) Given Average Rating of “Moderate Buy” by Analysts

Posted by Defense World Staff on Mar 18th, 2023

Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $54.38.

A number of research firms have recently weighed in on WPM. Barclays raised their target price on Wheaton Precious Metals from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. BMO Capital Markets dropped their target price on Wheaton Precious Metals from $52.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, March 10th. TD Securities dropped their target price on Wheaton Precious Metals from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday. Raymond James dropped their target price on Wheaton Precious Metals from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Finally, StockNews.com began coverage on Wheaton Precious Metals in a report on Thursday. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC raised its stake in shares of Wheaton Precious Metals by 62.9% during the 4th quarter. Voya Investment Management LLC now owns 345,182 shares of the company’s stock worth $13,509,000 after purchasing an additional 133,334 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Wheaton Precious Metals by 16.7% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 25,657 shares of the company’s stock worth $1,002,000 after purchasing an additional 3,676 shares during the period. Adalta Capital Management LLC bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth $117,000. Truist Financial Corp raised its stake in shares of Wheaton Precious Metals by 25.2% during the 4th quarter. Truist Financial Corp now owns 12,128 shares of the company’s stock worth $474,000 after purchasing an additional 2,441 shares during the period. Finally, Coppell Advisory Solutions Corp. bought a new stake in Wheaton Precious Metals in the 4th quarter valued at about $82,000. 57.01% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $45.30 on Friday. The business’s 50 day simple moving average is $43.14 and its two-hundred day simple moving average is $37.95. The firm has a market cap of $20.49 billion, a P/E ratio of 30.61, a PEG ratio of 7.60 and a beta of 0.55. Wheaton Precious Metals has a 52-week low of $28.62 and a 52-week high of $51.90.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last announced its quarterly earnings results on Friday, March 10th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $236.05 million during the quarter, compared to the consensus estimate of $241.70 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 62.83%. The firm’s revenue was down 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. On average, equities analysts forecast that Wheaton Precious Metals will post 1.16 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Friday, March 24th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Thursday, March 23rd. Wheaton Precious Metals’s payout ratio is 40.54%.

Wheaton Precious Metals Company Profile

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Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.