Wheaton Precious Metals (NYSE:WPM) PT Raised to $56.00

Wheaton Precious Metals (NYSE:WPMGet Rating) had its target price upped by KeyCorp from $46.00 to $56.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 9.63% from the stock’s previous close.

Other analysts have also issued research reports about the company. Raymond James set a $56.00 target price on Wheaton Precious Metals and gave the company an “outperform” rating in a report on Friday, March 11th. StockNews.com initiated coverage on shares of Wheaton Precious Metals in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Buy” and a consensus price target of $55.40.

NYSE:WPM opened at $51.08 on Tuesday. The firm’s fifty day simple moving average is $46.56 and its 200-day simple moving average is $42.91. The stock has a market cap of $23.03 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 7.25 and a beta of 0.48. Wheaton Precious Metals has a fifty-two week low of $36.39 and a fifty-two week high of $51.90.

Wheaton Precious Metals (NYSE:WPMGet Rating) last released its quarterly earnings data on Thursday, March 10th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). Wheaton Precious Metals had a return on equity of 9.86% and a net margin of 62.82%. The company had revenue of $278.20 million for the quarter, compared to analysts’ expectations of $287.99 million. During the same period in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts forecast that Wheaton Precious Metals will post 1.41 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Wheaton Precious Metals by 16.4% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 73,732 shares of the company’s stock worth $2,771,000 after purchasing an additional 10,385 shares during the period. Comerica Bank boosted its stake in Wheaton Precious Metals by 30.5% in the 3rd quarter. Comerica Bank now owns 32,852 shares of the company’s stock worth $1,387,000 after buying an additional 7,670 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Wheaton Precious Metals by 12.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 72,392 shares of the company’s stock valued at $2,720,000 after buying an additional 8,202 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Wheaton Precious Metals during the 4th quarter valued at about $237,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Wheaton Precious Metals by 123.7% during the 3rd quarter. Two Sigma Advisers LP now owns 367,404 shares of the company’s stock worth $13,807,000 after acquiring an additional 203,200 shares during the period. Hedge funds and other institutional investors own 68.35% of the company’s stock.

About Wheaton Precious Metals (Get Rating)

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 23 operating mining assets and 10 development stage projects. The company was formerly known as Silver Wheaton Corp.

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