Royal Bank of Canada started coverage on shares of Wheaton Precious Metals (NYSE:WPM) in a report published on Wednesday morning, TipRanks reports. The brokerage issued a buy rating and a $33.00 price objective on the stock.
A number of other analysts have also recently weighed in on WPM. Credit Suisse Group increased their price target on Wheaton Precious Metals from $34.00 to $38.00 and gave the stock a neutral rating in a research report on Friday, August 9th. Canaccord Genuity restated a buy rating on shares of Wheaton Precious Metals in a research report on Friday, August 23rd. TheStreet upgraded Wheaton Precious Metals from a c+ rating to a b- rating in a research note on Friday, November 15th. ValuEngine downgraded Wheaton Precious Metals from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research lowered Wheaton Precious Metals from a buy rating to a hold rating in a research report on Thursday, November 28th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $33.00.
Shares of NYSE:WPM opened at $27.27 on Wednesday. The company has a market cap of $12.20 billion, a PE ratio of 56.81, a P/E/G ratio of 9.73 and a beta of -0.12. Wheaton Precious Metals has a fifty-two week low of $16.20 and a fifty-two week high of $30.90. The firm has a 50-day simple moving average of $27.15 and a 200 day simple moving average of $25.99. The company has a quick ratio of 4.67, a current ratio of 4.67 and a debt-to-equity ratio of 0.20.
Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, November 14th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.16. Wheaton Precious Metals had a net margin of 1.85% and a return on equity of 4.07%. The firm had revenue of $223.60 million for the quarter, compared to analysts’ expectations of $235.93 million. During the same quarter last year, the company posted $0.08 earnings per share. Wheaton Precious Metals’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts forecast that Wheaton Precious Metals will post 0.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.32%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 75.00%.
Several hedge funds and other institutional investors have recently modified their holdings of WPM. Invesco Ltd. raised its stake in Wheaton Precious Metals by 123.9% during the 2nd quarter. Invesco Ltd. now owns 5,137,109 shares of the company’s stock valued at $124,216,000 after acquiring an additional 2,842,321 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Wheaton Precious Metals during the third quarter valued at $53,330,000. Dudley & Shanley Inc. bought a new stake in shares of Wheaton Precious Metals during the third quarter valued at about $41,206,000. Man Group plc acquired a new stake in Wheaton Precious Metals in the third quarter worth about $19,387,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Wheaton Precious Metals by 50.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,211,766 shares of the company’s stock worth $53,604,000 after purchasing an additional 737,925 shares during the period. Institutional investors and hedge funds own 53.23% of the company’s stock.
Wheaton Precious Metals Company Profile
Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.
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