Wheaton Precious Metals (NYSE:WPM) PT Raised to $72.00 at Raymond James

Wheaton Precious Metals (NYSE:WPM) had its price target hoisted by analysts at Raymond James from $70.00 to $72.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 12.11% from the company’s current price. Raymond James also issued estimates for Wheaton Precious Metals’ Q3 2024 earnings at $0.40 EPS, Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.44 EPS, Q1 2025 earnings at $0.44 EPS, Q2 2025 earnings at $0.46 EPS, Q3 2025 earnings at $0.48 EPS, Q4 2025 earnings at $0.50 EPS and FY2025 earnings at $1.89 EPS.

WPM has been the topic of several other reports. Jefferies Financial Group upped their price target on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 12th. 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 report on Monday, August 19th. Bank of America raised their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. CIBC boosted their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, TD Securities lowered their price objective on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.63.

Wheaton Precious Metals Trading Up 0.1 %

Shares of WPM stock opened at $64.22 on Wednesday. The firm’s 50 day moving average is $59.93 and its 200 day moving average is $55.24. The stock has a market capitalization of $29.13 billion, a P/E ratio of 49.40, a PEG ratio of 2.27 and a beta of 0.78. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $64.82.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (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 firm had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. The business’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts predict that Wheaton Precious Metals will post 1.41 EPS for the current year.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of large investors have recently modified their holdings of the company. TD Asset Management Inc lifted its stake in Wheaton Precious Metals by 71.2% in the first quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock worth $229,026,000 after purchasing an additional 2,019,722 shares during the last quarter. AMF Tjanstepension AB lifted its stake in shares of Wheaton Precious Metals by 593.5% in the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock valued at $84,388,000 after acquiring an additional 1,376,231 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Wheaton Precious Metals by 31.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company’s stock valued at $272,975,000 after acquiring an additional 1,342,264 shares during the period. Barings LLC bought a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $65,405,000. Finally, Price T Rowe Associates Inc. MD grew its position in Wheaton Precious Metals by 16.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock worth $344,483,000 after acquiring an additional 1,010,307 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Company Profile

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.