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

by · The Cerbat Gem

Shares of Wheaton Precious Metals Corp. (NYSE:WPM – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $52.70.

A number of equities analysts recently issued reports on the stock. Berenberg Bank dropped their price target on shares of Wheaton Precious Metals from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. CIBC upped their price target on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Raymond James dropped their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Thursday, February 22nd. National Bank Financial cut shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Finally, Scotiabank dropped their price target on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 28th.

Check Out Our Latest Stock Report on WPM

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $44.71 on Friday. The company has a market capitalization of $20.26 billion, a PE ratio of 37.57, a P/E/G ratio of 9.14 and a beta of 0.76. The firm’s 50-day moving average price is $45.34 and its 200-day moving average price is $44.81. Wheaton Precious Metals has a 1-year low of $38.37 and a 1-year high of $52.76.

Hedge Funds Weigh In On Wheaton Precious Metals

Several institutional investors have recently made changes to their positions in WPM. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Wheaton Precious Metals by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock worth $301,893,000 after purchasing an additional 361,138 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Wheaton Precious Metals by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 481,497 shares of the company’s stock worth $22,909,000 after purchasing an additional 4,497 shares during the period. US Bancorp DE increased its holdings in Wheaton Precious Metals by 4.9% in the 1st quarter. US Bancorp DE now owns 11,778 shares of the company’s stock worth $561,000 after acquiring an additional 551 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Wheaton Precious Metals by 21.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 20,122 shares of the company’s stock worth $957,000 after acquiring an additional 3,535 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Wheaton Precious Metals by 245.5% in the 1st quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after acquiring an additional 1,798,086 shares in the last quarter. Institutional investors own 58.51% of the company’s stock.

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 10, 2017. Wheaton Precious Metals Corp.

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