Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $88.00 at Raymond James

Wheaton Precious Metals (NYSE:WPM) had its price target boosted by Raymond James from $75.00 to $88.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

WPM has been the subject of a number of other reports. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Royal Bank of Canada boosted their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Scotiabank raised their price target on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wheaton Precious Metals has a consensus rating of “Buy” and an average price target of $74.50.

Wheaton Precious Metals Trading Down 9.6 %

WPM stock opened at $70.99 on Friday. The firm has a market cap of $32.21 billion, a PE ratio of 52.98, a PEG ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals has a 1 year low of $49.41 and a 1 year high of $80.43. The company has a fifty day simple moving average of $70.17 and a 200 day simple moving average of $64.32.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $380.52 million for the quarter, compared to the consensus estimate of $395.74 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. Wheaton Precious Metals’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. As a group, analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.93%. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.16. Wheaton Precious Metals’s dividend payout ratio is currently 56.90%.

Hedge Funds Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fielder Capital Group LLC increased its position in shares of Wheaton Precious Metals by 0.7% during the fourth quarter. Fielder Capital Group LLC now owns 24,701 shares of the company’s stock valued at $1,389,000 after purchasing an additional 176 shares during the period. Signaturefd LLC boosted its stake in Wheaton Precious Metals by 1.5% during the fourth quarter. Signaturefd LLC now owns 11,877 shares of the company’s stock worth $668,000 after buying an additional 178 shares in the last quarter. Merit Financial Group LLC boosted its stake in Wheaton Precious Metals by 3.9% during the fourth quarter. Merit Financial Group LLC now owns 4,818 shares of the company’s stock worth $271,000 after buying an additional 179 shares in the last quarter. Insigneo Advisory Services LLC increased its stake in Wheaton Precious Metals by 2.2% in the third quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock valued at $522,000 after acquiring an additional 187 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Wheaton Precious Metals by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock valued at $1,208,000 after purchasing an additional 196 shares during the period. 70.34% of the stock is currently owned by institutional investors.

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.