Wheaton Precious Metals (NYSE:WPM) Upgraded to “Strong-Buy” at Stifel Canada

Wheaton Precious Metals (NYSE:WPM) was upgraded by investment analysts at Stifel Canada from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports. Stifel Canada also issued estimates for Wheaton Precious Metals’ FY2026 earnings at $1.99 EPS.

Other equities research analysts have also recently issued research reports about the stock. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Raymond James raised their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group initiated coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 target price for the company. Finally, TD Securities lifted 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 note on Friday, November 8th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $65.92 on Tuesday. Wheaton Precious Metals has a one year low of $38.57 and a one year high of $68.64. The company’s 50-day moving average is $59.48 and its 200 day moving average is $60.71. The company has a market capitalization of $29.91 billion, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 1.61 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the prior year, the business earned $0.27 EPS. As a group, research analysts predict that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of large investors have recently modified their holdings of WPM. Cetera Investment Advisers boosted its position in Wheaton Precious Metals by 1.1% in the second quarter. Cetera Investment Advisers now owns 37,659 shares of the company’s stock valued at $1,974,000 after buying an additional 409 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Wheaton Precious Metals in the 2nd quarter worth approximately $713,000. SG Americas Securities LLC boosted its position in Wheaton Precious Metals by 363.8% in the 3rd quarter. SG Americas Securities LLC now owns 16,652 shares of the company’s stock worth $1,017,000 after purchasing an additional 13,062 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its position in Wheaton Precious Metals by 8.5% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 11,373 shares of the company’s stock worth $695,000 after purchasing an additional 893 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its position in Wheaton Precious Metals by 110.7% in the 3rd quarter. Artemis Investment Management LLP now owns 116,132 shares of the company’s stock worth $7,092,000 after purchasing an additional 61,010 shares in the last quarter. Hedge funds and other institutional investors 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.