Wheaton Precious Metals (TSE:WPM) Reaches New 12-Month High After Analyst Upgrade

Wheaton Precious Metals Corp. (TSE:WPM)’s share price hit a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from C$107.00 to C$141.00. The stock traded as high as C$120.60 and last traded at C$117.28, with a volume of 322388 shares. The stock had previously closed at C$116.36.

Several other analysts also recently commented on WPM. BMO Capital Markets upgraded Wheaton Precious Metals to a “strong-buy” rating in a research note on Tuesday, April 15th. TD Securities boosted their target price on Wheaton Precious Metals from C$78.00 to C$83.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. National Bankshares lifted their price target on shares of Wheaton Precious Metals from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Peel Hunt lifted their target price on shares of Wheaton Precious Metals from C$95.00 to C$110.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Five analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$106.00.

Wheaton Precious Metals Stock Performance

The company has a market capitalization of C$37.21 billion, a PE ratio of 61.06 and a beta of 0.70. The company’s fifty day moving average is C$104.81 and its 200-day moving average is C$92.80.

Wheaton Precious Metals Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, April 11th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, April 1st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 43.71%.

About Wheaton Precious Metals

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.