Wheaton Precious Metals Corp. (NYSE:WPM – Get Free Report) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $165.5455.
Several brokerages have commented on WPM. Bank of America cut their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Scotiabank decreased their target price on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Weiss Ratings lowered shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. UBS Group cut their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th.
View Our Latest Report on Wheaton Precious Metals
Wheaton Precious Metals Stock Up 5.0%
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The firm had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $879.29 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was up 84.7% on a year-over-year basis. Research analysts anticipate that Wheaton Precious Metals will post 4.8 earnings per share for the current year.
Wheaton Precious Metals Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio is currently 17.29%.
Hedge Funds Weigh In On Wheaton Precious Metals
Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new position in Wheaton Precious Metals in the first quarter worth approximately $331,000. Focus Partners Wealth raised its position in Wheaton Precious Metals by 10.7% during the 1st quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock valued at $871,000 after purchasing an additional 1,081 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Wheaton Precious Metals in the 1st quarter worth $209,000. Sivia Capital Partners LLC purchased a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth $239,000. Finally, Rhumbline Advisers lifted its holdings in shares of Wheaton Precious Metals by 28.3% in the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after buying an additional 652 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.
Wheaton Precious Metals Company Profile
Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.
The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.
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