Wheaton Precious Metals (TSE:WPM) Sets New 12-Month High – Here’s What Happened

Shares of Wheaton Precious Metals Corp. (TSE:WPM) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$97.57 and last traded at C$97.29, with a volume of 169460 shares. The stock had previously closed at C$95.48.

Wall Street Analyst Weigh In

WPM has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective on Wheaton Precious Metals from C$90.00 to C$102.00 in a research note on Monday, October 21st. UBS Group raised shares of Wheaton Precious Metals to a “strong-buy” rating in a report on Monday, November 18th. Finally, Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$97.67.

Wheaton Precious Metals Price Performance

The stock has a market cap of C$44.03 billion, a PE ratio of 56.11 and a beta of 0.70. The stock’s fifty day moving average is C$85.90 and its 200-day moving average is C$84.89.

Wheaton Precious Metals Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, December 6th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.84 annualized dividend and a yield of 0.87%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 48.55%.

Wheaton Precious Metals 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 2017. Wheaton Precious Metals Corp.