Wheaton Precious Metals Corp. (NYSE:WPM) Receives Consensus Recommendation of “Buy” from Analysts

Wheaton Precious Metals Corp. (NYSE:WPM) has been given a consensus recommendation of “Buy” by the ten brokerages that are currently covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $71.67.

Several research analysts recently weighed in on WPM shares. TD Securities upped their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Raymond James upped their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, UBS Group started coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective on the stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WPM. CWM LLC grew its holdings in shares of Wheaton Precious Metals by 96.4% in the third quarter. CWM LLC now owns 5,970 shares of the company’s stock worth $365,000 after purchasing an additional 2,930 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Wheaton Precious Metals in the third quarter worth approximately $225,000. Creative Planning grew its holdings in shares of Wheaton Precious Metals by 5.6% in the third quarter. Creative Planning now owns 44,000 shares of the company’s stock worth $2,688,000 after purchasing an additional 2,318 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Wheaton Precious Metals by 0.6% in the third quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock worth $2,110,000 after purchasing an additional 197 shares during the last quarter. Finally, Well Done LLC grew its holdings in shares of Wheaton Precious Metals by 173.9% in the third quarter. Well Done LLC now owns 38,108 shares of the company’s stock worth $2,328,000 after purchasing an additional 24,196 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 2.8 %

WPM stock opened at $68.01 on Friday. The company’s 50 day moving average is $60.89 and its 200 day moving average is $61.47. The stock has a market cap of $30.85 billion, a price-to-earnings ratio of 50.75, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals has a 1-year low of $38.57 and a 1-year high of $70.31.

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.