Wheaton Precious Metals (NYSE:WPM) Upgraded by Stifel Canada to “Strong-Buy” Rating

Wheaton Precious Metals (NYSE:WPM) was upgraded by analysts at Stifel Canada from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports. Stifel Canada also issued estimates for Wheaton Precious Metals’ FY2026 earnings at $1.99 EPS.

A number of other research firms have also commented on WPM. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Raymond James upped their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group began coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 price target for the company. Finally, TD Securities boosted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $65.92 on Tuesday. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The firm has a market capitalization of $29.91 billion, a P/E ratio of 49.19, a P/E/G ratio of 1.61 and a beta of 0.77. The company’s 50 day moving average price is $59.48 and its two-hundred day moving average price is $60.71.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. During the same period in the previous year, the firm posted $0.27 EPS. On average, analysts expect that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its holdings in Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock worth $1,154,843,000 after acquiring an additional 1,231,999 shares during the last quarter. FMR LLC grew its position in Wheaton Precious Metals by 33.7% in the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock worth $895,723,000 after purchasing an additional 3,692,594 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Wheaton Precious Metals by 22.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after buying an additional 634,843 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Wheaton Precious Metals by 21.3% during the 3rd quarter. National Bank of Canada FI now owns 2,923,402 shares of the company’s stock worth $178,551,000 after buying an additional 513,890 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Wheaton Precious Metals by 11.8% in the 4th quarter. CIBC Asset Management Inc now owns 2,541,133 shares of the company’s stock worth $144,356,000 after buying an additional 267,973 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

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.