Analysts Set Wheaton Precious Metals Corp. (NYSE:WPM) PT at $71.67

Wheaton Precious Metals Corp. (NYSE:WPM) has earned an average rating of “Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $71.67.

WPM has been the subject of several recent research reports. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. UBS Group began coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 target price for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WPM. US Bancorp DE increased its position in shares of Wheaton Precious Metals by 4.2% during the third quarter. US Bancorp DE now owns 7,167 shares of the company’s stock valued at $438,000 after buying an additional 290 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Wheaton Precious Metals by 31.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,825 shares of the company’s stock worth $111,000 after acquiring an additional 432 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Wheaton Precious Metals by 3.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 37,639 shares of the company’s stock worth $2,299,000 after acquiring an additional 1,273 shares in the last quarter. Principal Financial Group Inc. raised its position 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 worth $1,208,000 after acquiring an additional 196 shares in the last quarter. Finally, Tyler Stone Wealth Management lifted its stake in shares of Wheaton Precious Metals by 100.3% in the 3rd quarter. Tyler Stone Wealth Management now owns 4,253 shares of the company’s stock valued at $260,000 after purchasing an additional 2,130 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $73.82 on Wednesday. Wheaton Precious Metals has a fifty-two week low of $43.18 and a fifty-two week high of $74.93. The firm has a market cap of $33.49 billion, a price-to-earnings ratio of 55.09, a PEG ratio of 1.91 and a beta of 0.77. The firm has a 50 day moving average price of $64.40 and a 200-day moving average price of $62.60.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.165 dividend. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a yield of 0.89%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

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.