Raymond James Boosts Wheaton Precious Metals (NYSE:WPM) Price Target to $88.00

by · The Markets Daily

Wheaton Precious Metals (NYSE:WPM – Get Free Report) had its price objective increased by investment analysts at Raymond James from $75.00 to $88.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 21.70% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Scotiabank increased their price target on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Monday, March 17th. Royal Bank of Canada increased their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $74.50.

View Our Latest Stock Analysis on Wheaton Precious Metals

Wheaton Precious Metals Price Performance

WPM stock traded down $6.19 during trading hours on Friday, reaching $72.31. 2,317,849 shares of the stock were exchanged, compared to its average volume of 1,640,649. The company has a market cap of $32.81 billion, a price-to-earnings ratio of 53.86, a PEG ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals has a 12 month low of $49.41 and a 12 month high of $80.43. The firm’s 50-day moving average is $69.95 and its 200-day moving average is $64.22.

Wheaton Precious Metals (NYSE:WPM – Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) 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 return on equity of 8.85% and a net margin of 50.05%. The business’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, equities research analysts forecast that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WPM. Fielder Capital Group LLC boosted its stake in Wheaton Precious Metals by 0.7% during the fourth quarter. Fielder Capital Group LLC now owns 24,701 shares of the company’s stock worth $1,389,000 after acquiring an additional 176 shares in the last quarter. Signaturefd LLC grew its stake in shares of Wheaton Precious Metals by 1.5% in the 4th quarter. Signaturefd LLC now owns 11,877 shares of the company’s stock valued at $668,000 after buying an additional 178 shares during the period. Merit Financial Group LLC increased its position in Wheaton Precious Metals by 3.9% in the 4th quarter. Merit Financial Group LLC now owns 4,818 shares of the company’s stock valued at $271,000 after buying an additional 179 shares in the last quarter. Insigneo Advisory Services LLC increased its position in Wheaton Precious Metals by 2.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock valued at $522,000 after buying an additional 187 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Wheaton Precious Metals by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock worth $1,208,000 after buying an additional 196 shares during the period. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Company Profile

(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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