Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $90.00

Wheaton Precious Metals (NYSE:WPM) had its price objective boosted by investment analysts at Raymond James from $88.00 to $90.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 9.11% from the stock’s previous close.

A number of other brokerages have also recently weighed in on WPM. Royal Bank of Canada boosted their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, April 4th. UBS Group upped their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a report on Friday. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Scotiabank boosted their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research report on Monday. One investment 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. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus price target of $76.60.

Wheaton Precious Metals Stock Up 0.2 %

Shares of WPM traded up $0.16 during mid-day trading on Tuesday, hitting $82.49. 387,401 shares of the company’s stock were exchanged, compared to its average volume of 1,640,594. Wheaton Precious Metals has a twelve month low of $49.71 and a twelve month high of $83.63. The firm has a fifty day moving average of $72.25 and a two-hundred day moving average of $65.00. The stock has a market cap of $37.42 billion, a price-to-earnings ratio of 61.55, a P/E/G ratio of 1.91 and a beta of 0.74.

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. On average, equities analysts predict that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its position in shares of Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock worth $1,154,843,000 after purchasing an additional 1,231,999 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Wheaton Precious Metals by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company’s stock worth $994,733,000 after buying an additional 281,123 shares in the last quarter. FMR LLC raised its stake in shares of Wheaton Precious Metals by 5.9% in the fourth quarter. FMR LLC now owns 15,529,219 shares of the company’s stock valued at $873,995,000 after acquiring an additional 863,306 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Wheaton Precious Metals by 5.0% in the 4th quarter. Royal Bank of Canada now owns 9,424,930 shares of the company’s stock worth $530,057,000 after acquiring an additional 447,702 shares in the last quarter. Finally, Norges Bank bought a new stake in Wheaton Precious Metals during the 4th quarter worth approximately $472,648,000. 70.34% of the stock is owned by institutional investors.

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.