UBS Group Issues Positive Forecast for Wheaton Precious Metals (NYSE:WPM) Stock Price

Wheaton Precious Metals (NYSE:WPM) had its price target hoisted by investment analysts at UBS Group from $78.00 to $89.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 8.44% from the company’s current price.

Other equities analysts have also issued reports about the company. Raymond James lifted their price objective on Wheaton Precious Metals from $75.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. Royal Bank of Canada increased their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Friday, April 4th. Scotiabank boosted their target price on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 17th. Finally, Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Buy” and a consensus price target of $75.60.

Wheaton Precious Metals Stock Performance

WPM opened at $82.08 on Friday. The stock has a 50-day moving average of $71.92 and a 200-day moving average of $64.86. Wheaton Precious Metals has a 52-week low of $49.71 and a 52-week high of $82.99. The company has a market cap of $37.24 billion, a PE ratio of 61.25, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $380.52 million during the quarter, compared to the consensus estimate of $395.74 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. On average, research analysts predict that Wheaton Precious Metals will post 1.46 earnings per share for the current year.

Institutional Trading of Wheaton Precious Metals

Institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at $472,648,000. Capital International Investors bought a new stake in Wheaton Precious Metals during the fourth quarter worth about $263,810,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Wheaton Precious Metals during the fourth quarter worth approximately $72,657,000. Van ECK Associates Corp raised its stake in shares of Wheaton Precious Metals by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock valued at $1,154,843,000 after acquiring an additional 1,231,999 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Wheaton Precious Metals by 54.4% in the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company’s stock worth $181,227,000 after acquiring an additional 1,135,699 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

About Wheaton Precious Metals

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.