Wheaton Precious Metals (NYSE:WPM) Announces Earnings Results, Meets Estimates

by · The Markets Daily

Wheaton Precious Metals (NYSE:WPM – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62, Briefing.com reports. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. During the same period last year, the business earned $0.34 earnings per share. The company’s revenue was up 54.5% on a year-over-year basis.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock traded down $0.27 during trading on Thursday, hitting $96.23. 1,853,423 shares of the stock were exchanged, compared to its average volume of 1,986,360. The stock has a market cap of $43.69 billion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 1.67 and a beta of 0.38. The firm’s 50-day moving average price is $104.05 and its 200 day moving average price is $94.43. Wheaton Precious Metals has a 12-month low of $55.47 and a 12-month high of $114.36.

Institutional Trading of Wheaton Precious Metals

A number of institutional investors have recently bought and sold shares of WPM. Smartleaf Asset Management LLC lifted its stake in Wheaton Precious Metals by 19.7% during the second quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the company’s stock worth $150,000 after purchasing an additional 284 shares during the last quarter. Redwood Investment Management LLC purchased a new stake in Wheaton Precious Metals during the second quarter worth approximately $201,000. MGB Wealth Management LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $201,000. Synergy Financial Group LTD purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $206,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Wheaton Precious Metals during the 1st quarter worth approximately $209,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WPM has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Wheaton Precious Metals in a research note on Wednesday, October 8th. Scotiabank reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Thursday, October 23rd. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. Bank of America lifted their target price on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Berenberg Bank lifted their target price on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.00.

View Our Latest Stock Report on WPM

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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