Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $61.00

Wheaton Precious Metals (NYSE:WPM) had its price objective boosted by BMO Capital Markets from $59.00 to $61.00 in a report published on Tuesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research firms also recently weighed in on WPM. Raymond James dropped their price target on Wheaton Precious Metals from $60.00 to $58.00 and set a market perform rating for the company in a research note on Thursday, February 22nd. TD Securities raised shares of Wheaton Precious Metals from a hold rating to a buy rating and raised their target price for the company from $51.00 to $53.00 in a research note on Monday, March 18th. Berenberg Bank boosted their price target on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a buy rating in a research note on Wednesday, March 27th. National Bank Financial lowered Wheaton Precious Metals from an outperform rating to a sector perform rating in a research report on Wednesday, February 21st. Finally, CIBC increased 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 report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $61.33.

Wheaton Precious Metals Stock Performance

WPM opened at $56.44 on Tuesday. The stock has a market cap of $25.59 billion, a price-to-earnings ratio of 43.42, a price-to-earnings-growth ratio of 2.02 and a beta of 0.75. The firm’s fifty day moving average is $51.67 and its 200 day moving average is $48.10. Wheaton Precious Metals has a fifty-two week low of $38.37 and a fifty-two week high of $57.87.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The business had revenue of $296.80 million for the quarter, compared to the consensus estimate of $278.95 million. During the same period in the previous year, the business earned $0.23 earnings per share. The business’s revenue was up 38.7% on a year-over-year basis. On average, equities research analysts predict that Wheaton Precious Metals will post 1.28 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.62 annualized dividend and a dividend yield of 1.10%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several institutional investors have recently added to or reduced their stakes in the business. Capital International Inc. CA grew its holdings in Wheaton Precious Metals by 2.5% during the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock worth $392,000 after acquiring an additional 204 shares during the period. Western Pacific Wealth Management LP increased its position in shares of Wheaton Precious Metals by 19.6% in the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after buying an additional 218 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Wheaton Precious Metals by 5.3% during the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock valued at $225,000 after acquiring an additional 240 shares during the last quarter. Parsons Capital Management Inc. RI grew its stake in Wheaton Precious Metals by 0.4% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 57,361 shares of the company’s stock valued at $2,326,000 after acquiring an additional 250 shares in the last quarter. Finally, Transatlantique Private Wealth LLC raised its holdings in Wheaton Precious Metals by 3.6% in the 3rd quarter. Transatlantique Private Wealth LLC now owns 7,808 shares of the company’s stock valued at $317,000 after acquiring an additional 270 shares during 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.