Wheaton Precious Metals (WPM) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Wheaton Precious Metals (NYSE:WPM) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $24.00 price objective on the stock.

According to Zacks, “Wheaton Precious Metals Corp. operates as a silver and gold streaming company. Wheaton Precious Metals Corp, formerly known as Silver Wheaton Corp, is headquartered in Vancouver, Canada. “

WPM has been the topic of several other reports. Royal Bank of Canada set a $27.00 price objective on shares of Wheaton Precious Metals and gave the company a buy rating in a report on Monday, August 28th. Desjardins reissued a buy rating on shares of Wheaton Precious Metals in a research note on Monday, December 11th. TD Securities set a $28.00 price target on shares of Wheaton Precious Metals and gave the stock a buy rating in a research note on Friday, October 20th. BMO Capital Markets reissued a buy rating and issued a $28.00 price target on shares of Wheaton Precious Metals in a research note on Wednesday, September 6th. Finally, TheStreet raised shares of Wheaton Precious Metals from a c+ rating to a b- rating in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $25.78.

Wheaton Precious Metals (NYSE WPM) opened at $22.03 on Tuesday. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.17. The stock has a market cap of $9,772.13, a price-to-earnings ratio of 47.89, a price-to-earnings-growth ratio of 7.20 and a beta of 0.30. Wheaton Precious Metals has a twelve month low of $17.35 and a twelve month high of $23.06.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. The business had revenue of $203.00 million for the quarter, compared to the consensus estimate of $220.84 million. Wheaton Precious Metals had a net margin of 24.02% and a return on equity of 5.54%. The firm’s revenue was down 13.0% on a year-over-year basis. equities research analysts predict that Wheaton Precious Metals will post 0.61 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Stockholders of record on Monday, November 27th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, November 24th. Wheaton Precious Metals’s dividend payout ratio is currently 78.26%.

Several large investors have recently bought and sold shares of WPM. SG Americas Securities LLC purchased a new position in shares of Wheaton Precious Metals in the second quarter worth about $146,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Wheaton Precious Metals during the second quarter valued at about $886,000. Swiss National Bank acquired a new stake in shares of Wheaton Precious Metals during the second quarter valued at about $79,348,000. Delta Lloyd Asset Management N.V. acquired a new stake in shares of Wheaton Precious Metals during the second quarter valued at about $2,932,000. Finally, Westpac Banking Corp acquired a new stake in shares of Wheaton Precious Metals during the second quarter valued at about $987,000. 50.45% of the stock is currently owned by hedge funds and other institutional investors.

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About Wheaton Precious Metals

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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