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

Wheaton Precious Metals Corp. (TSE:WPM)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$112.90 and last traded at C$110.15, with a volume of 481975 shares trading hands. The stock had previously closed at C$111.22.

Analyst Upgrades and Downgrades

WPM has been the subject of a number of research reports. National Bankshares increased their target price on shares of Wheaton Precious Metals from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a report on Monday, March 17th. CIBC increased their price objective on shares of Wheaton Precious Metals from C$85.00 to C$88.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. TD Securities raised their target price on shares of Wheaton Precious Metals from C$78.00 to C$83.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Peel Hunt raised their price objective on Wheaton Precious Metals from C$95.00 to C$110.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Six analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$98.38.

Wheaton Precious Metals Trading Down 0.5 %

The company has a 50-day moving average price of C$99.71 and a two-hundred day moving average price of C$90.45. The stock has a market capitalization of C$35.09 billion, a P/E ratio of 57.57 and a beta of 0.70.

Wheaton Precious Metals Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, April 11th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.60%. The ex-dividend date is Tuesday, April 1st. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 43.71%.

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.