Wheaton Precious Metals (WPM) Downgraded to Equal Weight at Barclays

Wheaton Precious Metals (NYSE:WPM) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday, Marketbeat Ratings reports.

A number of other analysts have also weighed in on the company. Credit Suisse Group lowered Wheaton Precious Metals from an “outperform” rating to a “neutral” rating in a research note on Wednesday, December 19th. Raymond James set a $28.00 target price on Wheaton Precious Metals and gave the company a “buy” rating in a research note on Thursday, March 21st. Scotiabank set a $35.00 target price on Wheaton Precious Metals and gave the company a “buy” rating in a research note on Friday, December 14th. Royal Bank of Canada raised their target price on Wheaton Precious Metals from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, December 17th. Finally, TD Securities raised their target price on Wheaton Precious Metals from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, December 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $32.00.

Wheaton Precious Metals stock opened at $23.55 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.76 and a quick ratio of 2.76. Wheaton Precious Metals has a 52-week low of $15.08 and a 52-week high of $25.24. The firm has a market cap of $10.45 billion and a price-to-earnings ratio of 49.06.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Wheaton Precious Metals had a return on equity of 4.18% and a net margin of 53.79%. The firm had revenue of $196.59 million during the quarter, compared to analyst estimates of $191.71 million. During the same period in the prior year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. Equities analysts anticipate that Wheaton Precious Metals will post 0.55 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in WPM. Van ECK Associates Corp boosted its holdings in Wheaton Precious Metals by 19.4% in the fourth quarter. Van ECK Associates Corp now owns 28,282,002 shares of the company’s stock valued at $552,348,000 after acquiring an additional 4,586,258 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Wheaton Precious Metals by 2.5% in the third quarter. Vanguard Group Inc. now owns 12,125,064 shares of the company’s stock valued at $212,188,000 after acquiring an additional 299,591 shares during the last quarter. Vanguard Group Inc boosted its holdings in Wheaton Precious Metals by 2.5% in the third quarter. Vanguard Group Inc now owns 12,125,064 shares of the company’s stock valued at $212,188,000 after acquiring an additional 299,591 shares during the last quarter. Ruffer LLP boosted its holdings in Wheaton Precious Metals by 46.5% in the fourth quarter. Ruffer LLP now owns 9,893,919 shares of the company’s stock valued at $161,701,000 after acquiring an additional 3,139,032 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Wheaton Precious Metals by 90.5% in the fourth quarter. Deutsche Bank AG now owns 5,539,961 shares of the company’s stock valued at $108,189,000 after acquiring an additional 2,632,252 shares during the last quarter. Institutional investors own 55.48% of the company’s stock.

About Wheaton Precious Metals

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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Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

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