Wheaton Precious Metals (NYSE:WPM) Given New $80.00 Price Target at Royal Bank of Canada

Wheaton Precious Metals (NYSE:WPM) had its price objective lifted by Royal Bank of Canada from $75.00 to $80.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $74.50.

Wheaton Precious Metals Stock Down 9.6 %

Wheaton Precious Metals stock opened at $70.99 on Friday. Wheaton Precious Metals has a 52-week low of $49.41 and a 52-week high of $80.43. The firm has a market cap of $32.21 billion, a PE ratio of 52.98, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74. The company’s 50 day moving average is $70.17 and its two-hundred day moving average is $64.28.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $380.52 million for the quarter, compared to analysts’ expectations of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm’s revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. On average, equities research analysts anticipate that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.165 per share. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.93%. The ex-dividend date is Tuesday, April 1st. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 56.90%.

Hedge Funds Weigh In On Wheaton Precious Metals

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at about $29,000. Promus Capital LLC purchased a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $38,000. Laurel Wealth Advisors LLC purchased a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $39,000. Finally, Quintet Private Bank Europe S.A. acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $39,000. 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.