Wheaton Precious Metals (NYSE:WPM) Stock Price Expected to Rise, Scotiabank Analyst Says

Wheaton Precious Metals (NYSE:WPM) had its target price upped by Scotiabank from $78.00 to $79.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

WPM has been the topic of a number of other reports. UBS Group assumed coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 target price on the stock. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $72.44.

Wheaton Precious Metals Trading Up 2.9 %

NYSE WPM opened at $75.97 on Monday. Wheaton Precious Metals has a 12 month low of $43.18 and a 12 month high of $76.22. The stock has a market cap of $34.47 billion, a P/E ratio of 56.69, a P/E/G ratio of 1.91 and a beta of 0.77. The stock’s fifty day moving average price is $65.11 and its 200-day moving average price is $62.80.

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

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.87%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 1st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WPM. Principal Financial Group Inc. boosted its position in Wheaton Precious Metals by 1.0% in the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock worth $1,208,000 after purchasing an additional 196 shares during the last quarter. Apollon Wealth Management LLC boosted its position in Wheaton Precious Metals by 47.7% in the third quarter. Apollon Wealth Management LLC now owns 5,899 shares of the company’s stock worth $360,000 after purchasing an additional 1,904 shares during the last quarter. Natixis Advisors LLC boosted its position in Wheaton Precious Metals by 13.2% in the third quarter. Natixis Advisors LLC now owns 62,683 shares of the company’s stock worth $3,829,000 after purchasing an additional 7,332 shares during the last quarter. Swiss National Bank raised its stake in shares of Wheaton Precious Metals by 0.8% in the third quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock worth $83,854,000 after buying an additional 10,600 shares during the period. Finally, MAI Capital Management raised its stake in shares of Wheaton Precious Metals by 4.5% in the third quarter. MAI Capital Management now owns 8,054 shares of the company’s stock worth $492,000 after buying an additional 346 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. 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.