Wheaton Precious Metals (TSE:WPM) Stock Price Breaks Above 200-Day Moving Average – Here’s Why

Wheaton Precious Metals Corp. (TSE:WPM)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$185.62 and traded as high as C$190.77. Wheaton Precious Metals shares last traded at C$185.96, with a volume of 1,524,845 shares.

Wall Street Analyst Weigh In

WPM has been the subject of several research reports. National Bank Financial increased their price target on shares of Wheaton Precious Metals from C$205.00 to C$210.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Peel Hunt lowered their price objective on shares of Wheaton Precious Metals from C$220.00 to C$187.00 in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$203.86.

Wheaton Precious Metals Stock Performance

The business has a 50 day moving average of C$195.16 and a 200-day moving average of C$185.62. The company has a market capitalization of C$84.46 billion, a P/E ratio of 41.25 and a beta of 1.70.

Wheaton Precious Metals (TSE:WPM) last released its quarterly earnings data on Thursday, November 5th. The company reported C$1.28 EPS for the quarter. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 22.96%. The company had revenue of C$1.10 billion during the quarter. As a group, equities analysts forecast that Wheaton Precious Metals Corp. will post 2.47 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, September 3rd were paid a $0.1950 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.78 annualized dividend and a yield of 0.4%. Wheaton Precious Metals’s dividend payout ratio is currently 15.97%.

Insider Transactions at Wheaton Precious Metals

In related news, insider Nikola Tatarkin sold 3,733 shares of Wheaton Precious Metals stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$189.00, for a total transaction of C$705,537.00. Following the completion of the sale, the insider owned 30,756 shares of the company’s stock, valued at approximately C$5,812,884. This trade represents a 10.82% decrease in their ownership of the stock. Corporate insiders own 0.13% of the company’s stock.

About Wheaton Precious Metals

Wheaton is the world’s premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. Wheaton is committed to strong ESG practices and giving back to the communities where Wheaton and its mining partners operate.