Berenberg Bank Raises Wheaton Precious Metals (NYSE:WPM) Price Target to $66.00
Berenberg Bank raised its target price on Wheaton Precious Metals (NYSE:WPM) from $64.00 to $66.00, giving the stock a "buy" rating. Other analysts have also increased their price targets on the stock, with a consensus rating of "Moderate Buy" and an average target price of $61.50. Wheaton Precious Metals had its quarterly earnings data released, beating analysts' estimates. The stock is currently trading at $53.13 with a potential upside of 24.22%.
Wheaton Precious Metals (NYSE:WPM - Get Free Report) had its target price upped by equities research analysts at Berenberg Bank from $64.00 to $66.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Berenberg Bank's price objective points to a potential upside of 24.22% from the stock's previous close.
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Several other analysts have also recently weighed in on the stock. CIBC increased their price target on shares of Wheaton Precious Metals from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, May 22nd. Jefferies Financial Group increased their price target on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a "buy" rating in a research note on Monday, April 22nd. Scotiabank increased their price target on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the company an "outperform" rating in a research note on Thursday, May 23rd. BMO Capital Markets increased their price objective on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 21st. Finally, Bank of America increased their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.50.
View Our Latest Stock Report on Wheaton Precious Metals
Wheaton Precious Metals Trading Up 0.5 %
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Shares of Wheaton Precious Metals stock traded up $0.28 during trading hours on Thursday, reaching $53.13. The stock had a trading volume of 346,454 shares, compared to its average volume of 1,940,202. The stock's 50 day moving average is $54.23 and its 200 day moving average is $49.32. The firm has a market capitalization of $24.10 billion, a PE ratio of 40.79, a PEG ratio of 1.93 and a beta of 0.78. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $57.87.
Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The business had revenue of $296.80 million during the quarter, compared to the consensus estimate of $278.95 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The company's revenue was up 38.7% compared to the same quarter last year. As a group, sell-side analysts predict that Wheaton Precious Metals will post 1.28 earnings per share for the current year.
Institutional Inflows and Outflows
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Institutional investors have recently made changes to their positions in the company. Capital International Inc. CA raised its holdings in Wheaton Precious Metals by 2.5% in the first quarter. Capital International Inc. CA now owns 8,308 shares of the company's stock valued at $392,000 after acquiring an additional 204 shares in the last quarter. Western Pacific Wealth Management LP raised its holdings in Wheaton Precious Metals by 19.6% in the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company's stock valued at $63,000 after acquiring an additional 218 shares in the last quarter. Brookstone Capital Management raised its holdings in Wheaton Precious Metals by 5.3% in the first quarter. Brookstone Capital Management now owns 4,771 shares of the company's stock valued at $225,000 after acquiring an additional 240 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in Wheaton Precious Metals by 30.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company's stock valued at $57,000 after acquiring an additional 273 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. raised its holdings in Wheaton Precious Metals by 2.1% in the first quarter. Bank of Nova Scotia Trust Co. now owns 13,935 shares of the company's stock valued at $657,000 after acquiring an additional 289 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.
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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