Wheaton Precious Metals (NYSE:WPM – Free Report) had its price target raised by Berenberg Bank from $52.00 to $54.00 in a report published on Wednesday morning, BayStreet.CA reports. Berenberg Bank currently has a buy rating on the stock.
Several other equities research analysts have also recently weighed in on the company. National Bank Financial cut Wheaton Precious Metals from an outperform rating to a sector perform rating in a research report on Wednesday, February 21st. TD Securities raised shares of Wheaton Precious Metals from a hold rating to a buy rating and increased their price target for the company from $51.00 to $53.00 in a report on Monday, March 18th. Jefferies Financial Group began coverage on shares of Wheaton Precious Metals in a report on Thursday, February 29th. They set a buy rating and a $49.00 price objective on the stock. Scotiabank cut their price objective on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a sector outperform rating for the company in a research report on Wednesday, February 28th. Finally, CIBC lifted their target price on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of Moderate Buy and an average price target of $60.81.
Read Our Latest Analysis on Wheaton Precious Metals
Wheaton Precious Metals Stock Performance
NYSE WPM opened at $46.29 on Wednesday. The stock has a 50-day simple moving average of $44.54 and a 200 day simple moving average of $45.03. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $52.76. The stock has a market capitalization of $20.97 billion, a PE ratio of 38.90, a P/E/G ratio of 11.66 and a beta of 0.76.
Wheaton Precious Metals Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be issued a dividend of $0.155 per share. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio (DPR) is 50.42%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. West Family Investments Inc. lifted its position in Wheaton Precious Metals by 0.6% in the 2nd quarter. West Family Investments Inc. now owns 43,777 shares of the company’s stock valued at $1,892,000 after acquiring an additional 249 shares in the last quarter. Parsons Capital Management Inc. RI lifted its holdings in shares of Wheaton Precious Metals by 0.4% in the third quarter. Parsons Capital Management Inc. RI now owns 57,361 shares of the company’s stock valued at $2,326,000 after purchasing an additional 250 shares in the last quarter. Transatlantique Private Wealth LLC boosted its position in shares of Wheaton Precious Metals by 3.6% during the third quarter. Transatlantique Private Wealth LLC now owns 7,808 shares of the company’s stock worth $317,000 after buying an additional 270 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Wheaton Precious Metals by 30.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock worth $57,000 after buying an additional 273 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Wheaton Precious Metals by 54.7% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock worth $31,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.
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 10, 2017. Wheaton Precious Metals Corp.
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