TD Securities Trims Wheaton Precious Metals Corp (SLW) Target Price to $18.00

Wheaton Precious Metals Corp (NYSE:SLW) (TSE:SLW) had its target price dropped by investment analysts at TD Securities from $24.00 to $18.00 in a research report issued on Thursday, May 11th, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the mining company’s stock. TD Securities’ price objective points to a potential downside of 13.92% from the company’s previous close.

The analysts wrote, “We have slightly lowered our Q2/17 estimate at Sudbury as Vale reported that it took a furnace offline and will have its three-week scheduled maintenance in the quarter. We estimate that the company has remaining liquidity of ~$1,051mm (based on Q1/17 ending cash of $115mm and $936mm available on its $2bln credit facility).””

Several other research analysts also recently commented on the stock. Deutsche Bank AG decreased their target price on shares of Wheaton Precious Metals Corp from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, March 21st. Credit Suisse Group reissued an “outperform” rating and set a $22.00 price objective (up from $21.87) on shares of Wheaton Precious Metals Corp in a research report on Thursday, April 13th. Goldman Sachs Group, Inc. (The) downgraded shares of Wheaton Precious Metals Corp from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $22.82 to $25.00 in a research report on Wednesday, February 8th. Royal Bank of Canada reissued a “buy” rating and set a $27.00 price objective on shares of Wheaton Precious Metals Corp in a research report on Thursday, April 6th. Finally, Scotiabank reduced their price objective on shares of Wheaton Precious Metals Corp from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 10th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $28.27.

Analyst Recommendations for Wheaton Precious Metals Corp (NYSE:SLW)

Shares of Wheaton Precious Metals Corp (SLW) opened at 20.91 on Thursday. Wheaton Precious Metals Corp has a 1-year low of $16.94 and a 1-year high of $31.35. The stock has a 50 day moving average of $20.62 and a 200-day moving average of $20.38.

Wheaton Precious Metals Corp (NYSE:SLW) (TSE:SLW) last issued its earnings results on Tuesday, May 9th. The mining company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. Wheaton Precious Metals Corp had a net margin of 1.80% and a return on equity of 5.34%. The company had revenue of $197.95 million for the quarter, compared to the consensus estimate of $217.84 million. During the same period in the previous year, the firm earned $0.10 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts predict that Wheaton Precious Metals Corp will post $0.64 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Thursday, May 25th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Tuesday, May 23rd. Wheaton Precious Metals Corp’s payout ratio is 2,402.40%.

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A number of institutional investors have recently made changes to their positions in SLW. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Wheaton Precious Metals Corp by 7.8% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,502,329 shares of the mining company’s stock worth $40,590,000 after buying an additional 109,317 shares during the last quarter. World Asset Management Inc boosted its position in shares of Wheaton Precious Metals Corp by 9.1% in the third quarter. World Asset Management Inc now owns 28,601 shares of the mining company’s stock worth $773,000 after buying an additional 2,387 shares during the last quarter. State of Wisconsin Investment Board boosted its position in shares of Wheaton Precious Metals Corp by 14.3% in the third quarter. State of Wisconsin Investment Board now owns 672,344 shares of the mining company’s stock worth $18,130,000 after buying an additional 83,971 shares during the last quarter. Oxbow Advisors LLC purchased a new position in shares of Wheaton Precious Metals Corp during the third quarter worth about $274,000. Finally, Quantbot Technologies LP purchased a new position in shares of Wheaton Precious Metals Corp during the third quarter worth about $987,000. Institutional investors own 49.16% of the company’s stock.

About Wheaton Precious Metals Corp

Wheaton Precious Metals Corp, formerly Silver Wheaton Corp, is a Canada-based pure precious metals streaming company engaged in the sale of silver and gold. The Company operates through eight segments: the silver produced by the San Dimas, Penasquito and Antamina mines, the gold produced by the Sudbury and Salobo mines, the silver and gold produced by the Constancia mine and the Other mines, and corporate operations.

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