Wheaton Precious Metals’ (WPM) “Buy (B-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their buy (b-) rating on shares of Wheaton Precious Metals (NYSE:WPM) in a report published on Friday,Weiss Ratings reports.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. Raymond James Financial upped their target price on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Bank of America lifted their price target on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, Scotiabank restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.00.

Wheaton Precious Metals Stock Down 0.1%

Wheaton Precious Metals stock opened at $98.09 on Friday. The stock has a market cap of $44.53 billion, a PE ratio of 56.70, a P/E/G ratio of 1.75 and a beta of 0.41. Wheaton Precious Metals has a 12-month low of $55.47 and a 12-month high of $114.36. The business’s 50-day moving average price is $103.84 and its two-hundred day moving average price is $93.62.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $503.22 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 68.2% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. As a group, analysts expect that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

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

Institutional Trading of Wheaton Precious Metals

Several institutional investors have recently added to or reduced their stakes in WPM. Spire Wealth Management raised its holdings in Wheaton Precious Metals by 56.4% during the 1st quarter. Spire Wealth Management now owns 8,877 shares of the company’s stock worth $689,000 after purchasing an additional 3,200 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Wheaton Precious Metals by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 2,200 shares of the company’s stock worth $171,000 after buying an additional 1,100 shares during the period. Sequoia Financial Advisors LLC raised its stake in Wheaton Precious Metals by 5.8% during the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company’s stock worth $419,000 after buying an additional 297 shares during the last quarter. PDS Planning Inc lifted its holdings in Wheaton Precious Metals by 5.0% in the first quarter. PDS Planning Inc now owns 4,497 shares of the company’s stock valued at $349,000 after buying an additional 213 shares during the period. Finally, Perpetual Ltd bought a new stake in Wheaton Precious Metals during the first quarter valued at $50,430,000. 70.34% of the stock is currently owned by institutional investors.

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.