Wheaton Precious Metals (TSE:WPM) Hits New 52-Week High – Here’s What Happened

Wheaton Precious Metals Corp. (TSE:WPM) reached a new 52-week high on Monday . The stock traded as high as C$211.70 and last traded at C$208.71, with a volume of 588516 shares trading hands. The stock had previously closed at C$200.26.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Canaccord Genuity Group raised their price objective on Wheaton Precious Metals from C$144.00 to C$172.00 in a research report on Thursday, October 2nd. Peel Hunt increased their price target on shares of Wheaton Precious Metals from C$162.00 to C$165.00 in a research note on Wednesday, November 12th. Finally, Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “moderate buy” rating and set a C$130.00 price objective on the stock in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$134.43.

Wheaton Precious Metals Stock Up 1.2%

The firm has a fifty day moving average price of C$163.69 and a two-hundred day moving average price of C$147.53. The stock has a market capitalization of C$92.04 billion, a P/E ratio of 92.02 and a beta of 1.01.

Wheaton Precious Metals (TSE:WPM) last announced its quarterly earnings results on Friday, November 7th. The company reported C$0.62 earnings per share (EPS) for the quarter. The company had revenue of C$663.15 million for the quarter. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.56%. Sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 2.4749013 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, December 4th were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.3%. Wheaton Precious Metals’s dividend payout ratio is presently 29.51%.

About Wheaton Precious Metals

Wheaton Precious Metals is one of the largest precious metals streaming companies in the world. The Company has entered into agreements to purchase all or a portion of the precious metals or cobalt production from high-quality mines for an upfront payment and an additional payment upon delivery of the metal. Wheaton currently has streaming agreements for 21 operating mines and 13 development stage projects. The Company’s production profile is driven by a portfolio of low-cost, long-life assets, including a gold stream on Vale’s Salobo mine, and a silver stream on Newmont’s Penasquito mine.