Wheaton Precious Metals (NYSE:WPM) Stock Rating Upgraded by Wall Street Zen

Wheaton Precious Metals (NYSE:WPM) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Monday.

Other research analysts have also issued research reports about the stock. BMO Capital Markets restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. National Bankshares reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. Scotiabank raised their target price on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, August 12th. Berenberg Bank boosted their price target on Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. Finally, UBS Group set a $106.00 price target on Wheaton Precious Metals and gave the stock a “neutral” rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average target price of $97.33.

Wheaton Precious Metals Stock Down 1.3%

Shares of NYSE:WPM opened at $104.72 on Monday. The firm has a fifty day moving average of $94.93 and a two-hundred day moving average of $85.78. Wheaton Precious Metals has a 12-month low of $55.47 and a 12-month high of $106.84. The firm has a market capitalization of $47.54 billion, a P/E ratio of 60.53, a price-to-earnings-growth ratio of 2.92 and a beta of 0.42.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business had revenue of $503.22 million during the quarter, compared to analyst estimates of $424.23 million. During the same period last year, the company earned $0.33 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 68.2% compared to the same quarter last year. Equities research analysts expect that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wheaton Precious Metals

Several large investors have recently bought and sold shares of WPM. Bulwark Capital Corp acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $27,000. Delta Asset Management LLC TN bought a new position in Wheaton Precious Metals in the second quarter worth $27,000. NBT Bank N A NY boosted its stake in Wheaton Precious Metals by 129.3% during the first quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after buying an additional 234 shares in the last quarter. Wealth Preservation Advisors LLC bought a new stake in Wheaton Precious Metals in the 1st quarter valued at $38,000. Finally, Banque Cantonale Vaudoise bought a new stake in Wheaton Precious Metals in the 1st quarter valued at $49,000. 70.34% of the stock is currently 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.