Wheaton Precious Metals (WPM) Upgraded to Hold at ValuEngine

Wheaton Precious Metals (NYSE:WPM) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday.

A number of other research analysts have also recently commented on WPM. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Wheaton Precious Metals in a research note on Monday, June 18th. Raymond James upped their target price on Wheaton Precious Metals from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, June 12th. Finally, Zacks Investment Research raised Wheaton Precious Metals from a “sell” rating to a “hold” rating in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Wheaton Precious Metals presently has a consensus rating of “Buy” and a consensus price target of $26.50.

NYSE WPM traded up $0.58 during trading hours on Thursday, hitting $17.24. 4,627,300 shares of the company were exchanged, compared to its average volume of 2,139,316. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.76 and a quick ratio of 4.76. Wheaton Precious Metals has a 52 week low of $15.18 and a 52 week high of $22.86. The stock has a market capitalization of $7.46 billion, a P/E ratio of 27.37, a PEG ratio of 6.03 and a beta of 0.21.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Tuesday, August 14th. The company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Wheaton Precious Metals had a return on equity of 5.80% and a net margin of 36.76%. The company had revenue of $212.40 million for the quarter, compared to analysts’ expectations of $203.92 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. equities research analysts anticipate that Wheaton Precious Metals will post 0.56 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPM. Cerebellum GP LLC grew its stake in shares of Wheaton Precious Metals by 919.2% during the second quarter. Cerebellum GP LLC now owns 8,286 shares of the company’s stock valued at $183,000 after buying an additional 7,473 shares during the last quarter. Greenleaf Trust bought a new position in Wheaton Precious Metals in the second quarter worth approximately $210,000. Marietta Investment Partners LLC bought a new position in Wheaton Precious Metals in the second quarter worth approximately $210,000. MAI Capital Management bought a new position in Wheaton Precious Metals in the second quarter worth approximately $214,000. Finally, Edgestream Partners L.P. bought a new position in Wheaton Precious Metals in the second quarter worth approximately $228,000. 52.18% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. operates as a silver and gold streaming company in Canada and internationally. It has streaming agreements for 20 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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