Wheaton Precious Metals (NYSE:WPM) Price Target Raised to $77.00

Wheaton Precious Metals (NYSE:WPM) had its price target lifted by stock analysts at Jefferies Financial Group from $67.00 to $77.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 27.67% from the stock’s current price.

WPM has been the subject of a number of other reports. Raymond James increased their price target on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. TD Securities reduced their price objective on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Bank of America raised their target price on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Scotiabank increased their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, Berenberg Bank increased their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average price target of $69.88.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $60.31 on Friday. The stock has a 50-day moving average price of $60.13 and a 200 day moving average price of $55.92. Wheaton Precious Metals has a one year low of $38.57 and a one year high of $64.82. The company has a market capitalization of $27.36 billion, a P/E ratio of 46.39, a P/E/G ratio of 2.24 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. During the same period in the prior year, the firm earned $0.31 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts forecast that Wheaton Precious Metals will post 1.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marketfield Asset Management LLC raised its holdings in shares of Wheaton Precious Metals by 61.0% in the 4th quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock valued at $4,343,000 after purchasing an additional 33,337 shares during the period. Financial Sense Advisors Inc. raised its stake in shares of Wheaton Precious Metals by 54.0% during the first quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock valued at $2,679,000 after acquiring an additional 19,924 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Wheaton Precious Metals during the first quarter valued at $1,752,000. FIL Ltd raised its stake in Wheaton Precious Metals by 5.5% during the fourth quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock worth $525,235,000 after buying an additional 550,804 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Wheaton Precious Metals by 8.5% in the first quarter. Russell Investments Group Ltd. now owns 878,049 shares of the company’s stock valued at $41,227,000 after purchasing an additional 68,755 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

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.