Wheaton Precious Metals (NYSE:WPM) Given New $75.00 Price Target at TD Securities

Wheaton Precious Metals (NYSE:WPM) had its price objective lifted by TD Securities from $74.00 to $75.00 in a research note published on Friday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

WPM has been the subject of several other reports. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Raymond James increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Jefferies Financial Group lifted their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Scotiabank increased their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average target price of $70.88.

Wheaton Precious Metals Trading Up 0.6 %

WPM stock traded up $0.41 during midday trading on Friday, hitting $64.82. The company’s stock had a trading volume of 2,440,415 shares, compared to its average volume of 1,775,140. The company has a market cap of $29.40 billion, a PE ratio of 51.50, a P/E/G ratio of 2.29 and a beta of 0.77. Wheaton Precious Metals has a 12 month low of $38.57 and a 12 month high of $68.64. The firm’s 50-day moving average is $62.79 and its 200-day moving average is $58.57.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $309.54 million. During the same period in the prior year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts expect that Wheaton Precious Metals will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is 49.21%.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently bought and sold shares of the stock. King Luther Capital Management Corp grew its stake in Wheaton Precious Metals by 48.1% during the third quarter. King Luther Capital Management Corp now owns 1,501,037 shares of the company’s stock valued at $91,683,000 after acquiring an additional 487,190 shares in the last quarter. MTM Investment Management LLC purchased a new position in shares of Wheaton Precious Metals in the third quarter worth approximately $202,000. Ontario Teachers Pension Plan Board purchased a new stake in Wheaton Precious Metals in the third quarter worth about $212,000. First Horizon Advisors Inc. bought a new position in Wheaton Precious Metals in the 3rd quarter worth approximately $67,000. Finally, PNC Financial Services Group Inc. increased its stake in Wheaton Precious Metals by 5.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 33,409 shares of the company’s stock worth $2,041,000 after acquiring an additional 1,768 shares during 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.