Jefferies Financial Group Boosts Wheaton Precious Metals (NYSE:WPM) Price Target to $77.00

Wheaton Precious Metals (NYSE:WPM) had its price objective hoisted by Jefferies Financial Group from $67.00 to $77.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the stock. Bank of America boosted their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a buy rating in a report on Wednesday, June 26th. CIBC boosted their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an outperformer rating in a report on Wednesday, July 10th. Scotiabank lifted their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a sector outperform rating in a research report on Monday, August 19th. Berenberg Bank lifted their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a buy rating in a research report on Thursday, June 27th. Finally, Raymond James lifted their target price on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an outperform rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $69.88.

Wheaton Precious Metals Trading Down 1.1 %

Shares of WPM opened at $59.62 on Friday. The firm has a market cap of $27.05 billion, a P/E ratio of 45.86, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. Wheaton Precious Metals has a 12-month low of $38.57 and a 12-month high of $64.82. The company’s 50-day moving average price is $60.15 and its 200 day moving average price is $56.19.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. Wheaton Precious Metals’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. Equities research analysts forecast that Wheaton Precious Metals will post 1.42 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AdvisorNet Financial Inc grew its position in shares of Wheaton Precious Metals by 6.1% during the second quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock worth $175,000 after buying an additional 190 shares in the last quarter. Capital International Inc. CA grew its position in shares of 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 buying an additional 204 shares in the last quarter. Western Pacific Wealth Management LP grew its position in shares of Wheaton Precious Metals by 19.6% during the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after buying an additional 218 shares in the last quarter. Brookstone Capital Management grew its position 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 worth $225,000 after buying an additional 240 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Wheaton Precious Metals by 25.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after buying an additional 253 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

About Wheaton Precious Metals

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.