TD Securities Issues Positive Forecast for Wheaton Precious Metals (NYSE:WPM) Stock Price

Wheaton Precious Metals (NYSE:WPM) had its target price upped by equities research analysts at TD Securities from $74.00 to $75.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 15.49% from the stock’s previous close.

Several other equities analysts also recently issued reports on WPM. Jefferies Financial Group boosted their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Scotiabank upped their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Raymond James lifted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.88.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM traded up $0.53 during midday trading on Friday, reaching $64.94. The company had a trading volume of 1,655,995 shares, compared to its average volume of 1,771,525. The stock has a market capitalization of $29.46 billion, a P/E ratio of 51.50, a PEG ratio of 2.29 and a beta of 0.77. The stock’s fifty day moving average price is $62.73 and its 200-day moving average price is $58.48. Wheaton Precious Metals has a one year low of $38.57 and a one year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The company had revenue of $299.06 million during the quarter, compared to analyst estimates of $309.54 million. During the same quarter last year, the firm earned $0.31 EPS. The business’s revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts forecast that Wheaton Precious Metals will post 1.44 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quent Capital LLC grew its holdings in Wheaton Precious Metals by 136.1% in the 1st quarter. Quent Capital LLC now owns 5,636 shares of the company’s stock valued at $266,000 after buying an additional 3,249 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Wheaton Precious Metals in the first quarter valued at about $499,000. Oppenheimer & Co. Inc. grew its position in Wheaton Precious Metals by 403.6% during the first quarter. Oppenheimer & Co. Inc. now owns 70,823 shares of the company’s stock worth $3,338,000 after buying an additional 56,759 shares in the last quarter. Forsta AP Fonden increased its stake in Wheaton Precious Metals by 11.1% during the first quarter. Forsta AP Fonden now owns 99,100 shares of the company’s stock valued at $4,672,000 after acquiring an additional 9,900 shares during the period. Finally, Verus Capital Partners LLC raised its holdings in Wheaton Precious Metals by 4.7% in the 1st quarter. Verus Capital Partners LLC now owns 18,950 shares of the company’s stock valued at $893,000 after acquiring an additional 850 shares in the last quarter. 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.