Wheaton Precious Metals Corp. (NYSE:WPM) Receives Consensus Rating of “Buy” from Analysts

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

WPM has been the topic of a number of research analyst reports. TD Securities increased their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Raymond James increased their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, UBS Group assumed coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 price target on the stock.

Wheaton Precious Metals Stock Up 1.1 %

Shares of Wheaton Precious Metals stock opened at $69.48 on Friday. The company has a market cap of $31.52 billion, a price-to-earnings ratio of 51.85, a price-to-earnings-growth ratio of 1.71 and a beta of 0.77. The company’s 50 day moving average is $60.57 and its 200 day moving average is $61.32. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $69.66.

Institutional Trading of Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fielder Capital Group LLC increased its stake in shares of Wheaton Precious Metals by 0.7% in the fourth quarter. Fielder Capital Group LLC now owns 24,701 shares of the company’s stock worth $1,389,000 after purchasing an additional 176 shares in the last quarter. Signaturefd LLC increased its stake in shares of Wheaton Precious Metals by 1.5% in the fourth quarter. Signaturefd LLC now owns 11,877 shares of the company’s stock worth $668,000 after purchasing an additional 178 shares in the last quarter. Merit Financial Group LLC increased its stake in shares of Wheaton Precious Metals by 3.9% in the fourth quarter. Merit Financial Group LLC now owns 4,818 shares of the company’s stock worth $271,000 after purchasing an additional 179 shares in the last quarter. Insigneo Advisory Services LLC increased its stake in shares of Wheaton Precious Metals by 2.2% in the third quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock worth $522,000 after purchasing an additional 187 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of 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 in the last quarter. 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.