Wheaton Precious Metals (NYSE:WPM) Earns Buy Rating from Canaccord Genuity

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Canaccord Genuity reiterated their buy rating on shares of Wheaton Precious Metals (NYSE:WPM) in a research note released on Friday morning, TipRanks reports.

WPM has been the subject of several other reports. TD Securities lifted their price objective on Wheaton Precious Metals from $29.00 to $32.00 and gave the stock a buy rating in a report on Tuesday, March 26th. Barclays cut Barrick Gold from an overweight rating to an equal weight rating and lifted their price objective for the stock from $15.00 to $18.00 in a report on Tuesday, July 16th. Deutsche Bank set a $81.00 price target on Franco Nevada and gave the stock a hold rating in a research report on Thursday, July 11th. Zacks Investment Research raised SCHNEIDER ELEC /ADR from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Friday, July 5th. Finally, ValuEngine raised Zumiez from a sell rating to a hold rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $30.88.

Shares of WPM traded down $0.17 during mid-day trading on Friday, hitting $26.98. The company’s stock had a trading volume of 2,802,800 shares, compared to its average volume of 2,351,507. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 2.07. The business has a 50-day moving average of $23.96. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 56.21, a P/E/G ratio of 10.01 and a beta of -0.01. Wheaton Precious Metals has a 1-year low of $15.08 and a 1-year high of $27.50.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $225.05 million during the quarter, compared to analysts’ expectations of $202.80 million. Wheaton Precious Metals had a return on equity of 3.86% and a net margin of 50.78%. Sell-side analysts anticipate that Wheaton Precious Metals will post 0.53 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. FIL Ltd grew its position in shares of Wheaton Precious Metals by 67.0% in the first quarter. FIL Ltd now owns 7,726,743 shares of the company’s stock valued at $183,924,000 after purchasing an additional 3,100,285 shares during the period. Deutsche Bank AG grew its position in Wheaton Precious Metals by 90.5% during 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 period. Norges Bank purchased a new stake in Wheaton Precious Metals during the fourth quarter valued at about $82,689,000. Swiss National Bank grew its position in Wheaton Precious Metals by 3.0% during the first quarter. Swiss National Bank now owns 3,494,800 shares of the company’s stock valued at $83,214,000 after acquiring an additional 101,600 shares during the period. Finally, FMR LLC grew its position in Wheaton Precious Metals by 8.2% during the first quarter. FMR LLC now owns 3,252,268 shares of the company’s stock valued at $77,415,000 after acquiring an additional 247,638 shares during the period. 55.18% of the stock is owned by institutional investors.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 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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