Investor Insight: Wheaton Precious Metals Corp. (WPM) Goes Ballistic – Investor Confidence on the Rise

The stock of Wheaton Precious Metals Corp. (NYSE:WPM) last traded at $46.10, up 0.63% from the previous session.

As we calculate the median target price by taking the range between a high of $62.00 and a low of $42.00, we find $56.50. Given the previous closing price of $45.81, this indicates a potential upside of 23.34 percent. WPM stock price is now -5.61% away from the 50-day moving average and 13.46% away from the 200-day moving average. The market capitalization of the company currently stands at $21.28B.

Brokers who have rated the stock have averaged $54.82 as their price target over the next twelve months.

With the price target maintained at $45, RBC Capital Mkts recently Downgraded its rating from Outperform to Sector Perform for Wheaton Precious Metals Corp. (NYSE: WPM).

Insiders disposed of 701,293 shares of company stock worth roughly $32.33 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in WPM stock. A new stake in Wheaton Precious Metals Corp. shares was purchased by CANOE FINANCIAL LP during the first quarter worth $86,200,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT CORP invested $24,707,000 in shares of WPM during the first quarter. In the first quarter, TRIASIMA PORTFOLIO MANAGEMENT INC. acquired a new stake in Wheaton Precious Metals Corp. valued at approximately $18,726,000. STACK FINANCIAL MANAGEMENT, INC acquired a new stake in WPM for approximately $16,952,000. SCHWARTZ INVESTMENT COUNSEL INC purchased a new stake in WPM valued at around $8,298,000 in the second quarter. In total, there are 871 active investors with 64.10% ownership of the company’s stock.

With an opening price of $45.80 on Tuesday morning, Wheaton Precious Metals Corp. (NYSE: WPM) set off the trading day. During the past 12 months, Wheaton Precious Metals Corp. has had a low of $28.62 and a high of $52.76. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 9.60, and a quick ratio of 9.50. According to the stock market information, the enterprise value for the company is $19.97B, which is based on a 33.48 price-to-earnings ratio, a 6.70 price-to-earnings-growth ratio, and a beta of 0.58. The fifty day moving average price for WPM is $48.82 and a two-hundred day moving average price translates $40.70 for the stock.

The latest earnings results from Wheaton Precious Metals Corp. (NYSE: WPM) was released for Mar, 2023. According to the Gold Company, earnings per share came in at $0.23, missing analysts’ expectations of $0.25 by -0.02. This compares to $0.35 EPS in the same period last year. The net profit margin was 64.10% and return on equity was 9.40% for WPM. The company reported revenue of $214.47 million for the quarter, compared to $307.24 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -30.2 percent. For the current quarter, analysts expect WPM to generate $270.83M in revenue.

Moreover, the firm recently paid out its quarterly dividend on 06/02/2023. Investors who held shares on 05/19/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.60 dividend and a 1.30% percent yield. There was an ex-dividend date of 05/18/2023 for this dividend. In terms of dividend payout ratio, WPM is presently at 43.50%.

Wheaton Precious Metals Corp.(WPM) Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 10, 2017. Wheaton Precious Metals Corp. was founded in 2004 and is headquartered in Vancouver, Canada.