Wheaton Precious Metals (NYSE:WPM) Lowered to C+ at TheStreet
Wheaton Precious Metals (NYSE:WPM – Get Rating) was downgraded by TheStreet from a “b” rating to a “c+” rating in a report issued on Friday, TheStreetRatingsTable reports.
A number of other equities analysts have also weighed in on WPM. Barclays lowered their price objective on shares of Wheaton Precious Metals from $49.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. The Goldman Sachs Group assumed coverage on Wheaton Precious Metals in a research note on Monday, September 12th. They issued a “buy” rating for the company. Canaccord Genuity Group dropped their price target on Wheaton Precious Metals from C$68.00 to C$67.00 in a research report on Friday, August 19th. TD Securities dropped their target price on shares of Wheaton Precious Metals from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, August 17th. Finally, Stifel Nicolaus cut their target price on shares of Wheaton Precious Metals from C$71.00 to C$66.50 in a research report on Wednesday, July 20th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.17.
Wheaton Precious Metals Price Performance
Shares of Wheaton Precious Metals stock opened at $29.08 on Friday. The firm’s fifty day simple moving average is $32.49 and its 200-day simple moving average is $39.33. The stock has a market capitalization of $13.14 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 4.66 and a beta of 0.55. Wheaton Precious Metals has a 12 month low of $28.62 and a 12 month high of $51.90.
Wheaton Precious Metals (NYSE:WPM – Get Rating) last announced its earnings results on Thursday, August 11th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $302.92 million for the quarter, compared to analysts’ expectations of $301.00 million. Wheaton Precious Metals had a net margin of 63.36% and a return on equity of 9.22%. Analysts anticipate that Wheaton Precious Metals will post 1.29 earnings per share for the current year.
Institutional Investors Weigh In On Wheaton Precious Metals
A number of hedge funds and other institutional investors have recently made changes to their positions in WPM. SeaCrest Wealth Management LLC purchased a new stake in Wheaton Precious Metals during the second quarter valued at about $26,000. Janiczek Wealth Management LLC grew its position in Wheaton Precious Metals by 1,319.6% during the second quarter. Janiczek Wealth Management LLC now owns 795 shares of the company’s stock valued at $27,000 after acquiring an additional 739 shares during the period. Selective Wealth Management Inc. purchased a new stake in Wheaton Precious Metals during the first quarter valued at about $33,000. Rational Advisors LLC grew its position in Wheaton Precious Metals by 59.2% during the first quarter. Rational Advisors LLC now owns 914 shares of the company’s stock valued at $43,000 after acquiring an additional 340 shares during the period. Finally, Pinnacle Financial Partners Inc. grew its position in Wheaton Precious Metals by 133.0% during the first quarter. Pinnacle Financial Partners Inc. now owns 1,032 shares of the company’s stock valued at $49,000 after acquiring an additional 589 shares during the period. Hedge funds and other institutional investors own 56.62% of the company’s stock.
Wheaton Precious Metals Company Profile
Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.
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