UBS Group Initiates Coverage on Wheaton Precious Metals (NYSE:WPM)

by · The Markets Daily

UBS Group started coverage on shares of Wheaton Precious Metals (NYSE:WPM – Free Report) in a report issued on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $78.00 price objective on the stock.

A number of other equities research analysts have also recently commented on the stock. Scotiabank increased their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Raymond James raised 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 note on Friday, October 25th. Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, TD Securities lifted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Read Our Latest Stock Report on WPM

Wheaton Precious Metals Trading Up 0.9 %

Shares of NYSE:WPM opened at $63.40 on Monday. The company has a market capitalization of $28.76 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 2.28 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 $62.99 and its 200 day moving average is $59.06.

Wheaton Precious Metals (NYSE:WPM – Get Free Report) last issued its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period in the prior year, the firm earned $0.27 EPS. As a group, equities analysts forecast that Wheaton Precious Metals will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 0.98%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

Institutional Trading of Wheaton Precious Metals

Several institutional investors and hedge funds have recently bought and sold shares of WPM. Te Ahumairangi Investment Management Ltd increased its stake in Wheaton Precious Metals by 1.0% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 67,392 shares of the company’s stock valued at $4,097,000 after buying an additional 668 shares during the period. Virtu Financial LLC acquired a new position in shares of Wheaton Precious Metals during the 3rd quarter worth $284,000. Toronto Dominion Bank grew its stake in Wheaton Precious Metals by 58.2% in the 3rd quarter. Toronto Dominion Bank now owns 876,342 shares of the company’s stock valued at $53,527,000 after acquiring an additional 322,339 shares during the last quarter. Geode Capital Management LLC grew its stake in Wheaton Precious Metals by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,002,629 shares of the company’s stock valued at $121,939,000 after acquiring an additional 111,769 shares during the last quarter. Finally, Barclays PLC grew its stake in Wheaton Precious Metals by 9.9% in the 3rd quarter. Barclays PLC now owns 315,914 shares of the company’s stock valued at $19,297,000 after acquiring an additional 28,485 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

About Wheaton Precious Metals

(Get Free Report)

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.

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