According to Bloomberg Ratings, the ten research firms covering Wheaton Precious Metals Corp. (NYSE: WPM) have collectively assigned the stock a rating of “Moderate Buy” as their consensus recommendation. Three financial analysts gave the stock a hold rating, while the remaining four gave the stock a buy recommendation. The average price target for the next 12 months given by analysts who rated the company in the previous year is $54.17. Many brokerage firms have recently shown interest in WPM due to its strong performance. National Bank Financial cut its price objective for Wheaton Precious Metals in a report made public on Monday, August 15th. The new price goal is C$68.00, down from C$70.00. In a research report made available to the public on Monday, July 18th, KeyCorp decreased its price objective for Wheaton Precious Metals from $56.00 to $38.00. The study also assigned an “overweight” rating to the stock. In a report published on Wednesday, July 20th, Stifel Nicolaus announced that it had reduced its price estimate for Wheaton Precious Metals from C$71.00 to C$66.50.
In a report that Barclays published on Tuesday, July 19th, the price objective for Wheaton Precious Metals was decreased from $49.00 to $41.00. Additionally, the stock was given a rating of “equal weight.” In a research report released on Wednesday, August 17th, TD Securities decreased its “buy” rating and price objective for Wheaton Precious Metals from $50.00 to $49.00 in a research report. Several institutional investors have recently adjusted the proportion of their holdings that are in the company. During the first three months of 2018, AE Wealth Management LLC increased the percentage of Wheaton Precious Metals stock owned by 2.1%. During that period, AE Wealth Management LLC acquired an additional 207 shares of the company’s stock, bringing their total number of shares owned to 10,228 with a value of $487,000. During the first three months, Advisory Partners LLC increased its holdings in Wheaton Precious Metals by 4.8%. In the most recent quarter, Advisor Partners LLC increased its stake in the company by purchasing an additional 263 shares, bringing the total number of shares it owns in the company to 5,699. These shares are currently valued at $271,000. Through the second quarter, Wheaton Precious Metals was able to increase its holdings in Wheaton Precious Metals by 8.5%. After purchasing an additional 310 shares during the most recent quarter, Quadrant Capital Group LLC now has a total of 3,972, currently valued at $143,000. Cigna Investments Inc. increased its holdings in Wheaton Precious Metals by 4.0 percentage points during the second quarter. Cigna Investments Inc. now directly owns 8,501 shares of the company, and the total value of those shares is $306,000. This was made possible by acquiring 326 extra shares during the most recent quarter.
Last but not least, in the previous quarter of 2018, PCJ Investment Counsel Ltd. increased the percentage of Wheaton Precious Metals stock by 2.2%. PCJ Investment Counsel Ltd. now owns 15,000 shares of the company’s stock worth $644,000, following the purchase of 330 additional shares during the most recent quarter of the company’s fiscal year. Institutions hold 67.90% of the company’s stock in their portfolios. The opening price of the NYSE WPM on Tuesday was $31.35. The company has a price-to-earnings ratio of 19.23, a PEG ratio of 5.02, a beta of 0.51, and a market capitalization of $14.16 billion, all of which contribute to its current valuation of $14.16 billion. The 50-day moving average for the stock is $34.34, and the 200-day moving average is $41.22. The current price of Wheaton Precious Metals is $31.21, which is lower than the 52-week low of $51.90 but higher than the 52-week high of $52.90. In addition, the company has announced a quarterly dividend, which is scheduled to be distributed on September 8th of this year. Investors who have their shares on file as of the Friday, August 26 deadline will be eligible to receive a $0.15 dividend payment per share. When calculated annually, this equates to a dividend payment of $0.60 and a dividend yield of 1.91%. This dividend will be distributed to shareholders whose accounts are current as of this coming Wednesday, September 7. The payout ratio for dividends for Wheaton Precious Metals is currently at 36.81%. Wheaton Precious Metals Corp. is a streaming firm that offers precious metals in Canada and other countries. The corporation owns deposits of precious metals such as gold, silver, palladium, and cobalt. In addition, it has financial stakes in thirteen development projects and twenty-three operational mines. Previously, the company was known by its former name, Silver Wheaton Corp.