Wheaton Precious Metals (NYSE:WPM) PT Raised to $66.00 at Berenberg Bank

Wheaton Precious Metals (NYSE:WPM) had its target price increased by Berenberg Bank from $64.00 to $66.00 in a research note released on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities research analysts have also commented on WPM. BMO Capital Markets boosted their price objective on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an outperform rating in a research note on Tuesday, May 21st. Bank of America boosted their target price on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a buy rating in a report on Wednesday, June 26th. CIBC boosted their target price on Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an outperform rating in a report on Wednesday, May 22nd. Scotiabank boosted their target price on Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an outperform rating in a report on Thursday, May 23rd. Finally, Jefferies Financial Group boosted their target price on Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a buy rating in a report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals has an average rating of Moderate Buy and a consensus target price of $61.50.

Wheaton Precious Metals Trading Down 1.1 %

NYSE:WPM opened at $52.42 on Thursday. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $57.87. The stock has a 50 day moving average of $54.23 and a two-hundred day moving average of $49.41. The firm has a market cap of $23.77 billion, a P/E ratio of 40.32, a price-to-earnings-growth ratio of 1.83 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The company had revenue of $296.80 million during the quarter, compared to analyst estimates of $278.95 million. During the same period in the previous year, the business earned $0.23 EPS. Wheaton Precious Metals’s quarterly revenue was up 38.7% on a year-over-year basis. On average, research analysts forecast that Wheaton Precious Metals will post 1.29 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WPM. Norges Bank acquired a new position in Wheaton Precious Metals during the fourth quarter worth $387,481,000. TD Asset Management Inc increased its position in shares of Wheaton Precious Metals by 71.2% during the first quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock worth $229,026,000 after acquiring an additional 2,019,722 shares during the period. Van ECK Associates Corp increased its position in shares of Wheaton Precious Metals by 9.9% during the fourth quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock worth $1,012,517,000 after acquiring an additional 1,856,031 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Wheaton Precious Metals by 31.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company’s stock worth $272,975,000 after acquiring an additional 1,342,264 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Wheaton Precious Metals by 16.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock worth $344,483,000 after acquiring an additional 1,010,307 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.