Wheaton Precious Metals (NYSE:WPM) Given a $106.00 Price Target at UBS Group

UBS Group set a $106.00 price target on Wheaton Precious Metals (NYSE:WPM) in a research report sent to investors on Monday, Marketbeat reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also recently commented on WPM. Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Raymond James Financial raised their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Scotiabank raised their price target on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a report on Monday, April 14th. National Bankshares reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Finally, Berenberg Bank raised their price target on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Wheaton Precious Metals Stock Down 1.3%

Shares of NYSE:WPM opened at $95.11 on Monday. The stock has a market cap of $43.18 billion, a PE ratio of 54.98, a PEG ratio of 2.68 and a beta of 0.39. The company’s fifty day moving average is $91.79 and its 200 day moving average is $81.39. Wheaton Precious Metals has a 52 week low of $55.47 and a 52 week high of $103.81.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $503.22 million for the quarter, compared to analysts’ expectations of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm’s revenue was up 68.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. Sell-side analysts anticipate that Wheaton Precious Metals will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals’s payout ratio is presently 38.15%.

Institutional Investors Weigh In On Wheaton Precious Metals

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at about $656,463,000. Capital International Investors purchased a new position in Wheaton Precious Metals during the 4th quarter valued at about $263,810,000. Invesco Ltd. lifted its position in Wheaton Precious Metals by 139.8% during the 2nd quarter. Invesco Ltd. now owns 2,085,042 shares of the company’s stock valued at $187,237,000 after acquiring an additional 1,215,660 shares during the period. Mackenzie Financial Corp lifted its position in Wheaton Precious Metals by 54.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company’s stock valued at $181,227,000 after acquiring an additional 1,135,699 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in Wheaton Precious Metals by 1,321.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company’s stock valued at $68,720,000 after acquiring an additional 1,135,603 shares during the period. Institutional investors 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.