Wheaton Precious Metals (NYSE:WPM) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Wheaton Precious Metals (NYSE:WPM) from a sell rating to a hold rating in a research note issued to investors on Friday morning, Zacks.com reports.

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. “

Several other research analysts have also weighed in on WPM. Standpoint Research lowered Wheaton Precious Metals from a buy rating to a hold rating in a research report on Friday, March 29th. Raymond James set a $28.00 price objective on Wheaton Precious Metals and gave the stock a buy rating in a research report on Thursday, March 21st. Barclays lowered Wheaton Precious Metals from an overweight rating to an equal weight rating in a research report on Tuesday, April 9th. 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 research report on Tuesday, March 26th. Finally, GMP Securities lowered Wheaton Precious Metals from a buy rating to a hold rating and set a $26.00 price objective for the company. in a research report on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $31.14.

Shares of WPM opened at $24.18 on Friday. The firm has a market cap of $10.66 billion, a P/E ratio of 50.38, a PEG ratio of 8.76 and a beta of -0.04. Wheaton Precious Metals has a 12 month low of $15.08 and a 12 month high of $25.24. The stock’s 50-day moving average is $22.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.07 and a quick ratio of 2.07.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. The firm had revenue of $225.05 million for the quarter, compared to the consensus estimate of $202.80 million. Wheaton Precious Metals had a return on equity of 3.86% and a net margin of 50.78%. Equities research analysts forecast that Wheaton Precious Metals will post 0.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 24th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Thursday, May 23rd. Wheaton Precious Metals’s payout ratio is 75.00%.

A number of institutional investors have recently modified their holdings of the stock. Usca Ria LLC increased its position in Wheaton Precious Metals by 3.1% in the 4th quarter. Usca Ria LLC now owns 19,978 shares of the company’s stock valued at $390,000 after buying an additional 601 shares in the last quarter. Gluskin Sheff & Assoc Inc. increased its position in Wheaton Precious Metals by 1.1% in the 4th quarter. Gluskin Sheff & Assoc Inc. now owns 95,820 shares of the company’s stock valued at $1,870,000 after buying an additional 1,010 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Wheaton Precious Metals by 5.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 22,221 shares of the company’s stock valued at $434,000 after buying an additional 1,170 shares in the last quarter. Advisory Services Network LLC boosted its stake in Wheaton Precious Metals by 1.7% during the 1st quarter. Advisory Services Network LLC now owns 83,679 shares of the company’s stock valued at $1,993,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its stake in Wheaton Precious Metals by 11.5% during the 1st quarter. Koshinski Asset Management Inc. now owns 13,603 shares of the company’s stock valued at $324,000 after purchasing an additional 1,400 shares during the last quarter. 55.24% of the stock is owned by institutional investors and hedge funds.

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.

Read More: What Are Cryptocurrencies?

Get a free copy of the Zacks research report on Wheaton Precious Metals (WPM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Wheaton Precious Metals (NYSE:WPM)

Receive News & Ratings for Wheaton Precious Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wheaton Precious Metals and related companies with MarketBeat.com's FREE daily email newsletter.