Raymond James Reaffirms “Outperform” Rating for Wheaton Precious Metals (WPM)

Wheaton Precious Metals (TSE:WPM)‘s stock had its “outperform” rating reaffirmed by investment analysts at Raymond James in a research note issued on Friday, March 22nd, BayStreet.CA reports. They presently have a C$28.00 price objective on the stock. Raymond James’ price target would suggest a potential downside of 10.34% from the company’s current price.

A number of other brokerages also recently issued reports on WPM. CSFB downgraded shares of Wheaton Precious Metals from an “outperform” rating to a “neutral” rating in a report on Wednesday, December 19th. Eight Capital raised their price target on shares of Wheaton Precious Metals from C$34.00 to C$35.00 in a report on Monday, December 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a C$30.00 price target on shares of Wheaton Precious Metals in a report on Friday, February 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a C$27.00 price target on shares of Wheaton Precious Metals in a report on Monday, December 17th.

WPM stock traded up C$0.39 during trading on Friday, hitting C$31.23. 683,221 shares of the stock traded hands, compared to its average volume of 1,096,087. Wheaton Precious Metals has a 1 year low of C$19.87 and a 1 year high of C$33.85. The company has a market capitalization of $13.70 billion and a price-to-earnings ratio of 32.53. The company has a debt-to-equity ratio of 24.44, a quick ratio of 2.71 and a current ratio of 2.76.

Wheaton Precious Metals (TSE:WPM) last announced its quarterly earnings results on Wednesday, March 20th. The company reported C$0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.05. The company had revenue of C$259.85 million for the quarter, compared to analysts’ expectations of C$254.10 million. As a group, research analysts predict that Wheaton Precious Metals will post 0.519999986089172 earnings per share for the current fiscal year.

In other Wheaton Precious Metals news, Director John Brough sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of C$33.48, for a total transaction of C$50,220.00. Also, Senior Officer Randy Smallwood sold 10,820 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$33.34, for a total transaction of C$360,738.80. Following the sale, the insider now owns 267,262 shares in the company, valued at approximately C$8,910,515.08. In the last 90 days, insiders have sold 16,320 shares of company stock worth $544,175.

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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