Wheaton Precious Metals (TSE:WPM) Given New C$130.00 Price Target at CIBC

Key Points

• CIBC has raised its price target for Wheaton Precious Metals from C$125.00 to C$130.00, maintaining an "outperform" rating on the stock.
• Several other analysts have also reviewed the stock, with UBS downgrading it to "hold," while Peel Hunt and Canaccord Genuity raised their target prices to C$161.00 and C$134.00, respectively.
• As of the latest trading, Wheaton Precious Metals stock was at C$147.67, reflecting a potential downside of approximately 11.97% from CIBC's new price target.

Wheaton Precious Metals (TSE:WPM - Free Report) had its target price hoisted by CIBC from C$125.00 to C$130.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on the company. Peel Hunt upped their price target on Wheaton Precious Metals from C$149.00 to C$161.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Canaccord Genuity Group upped their price objective on Wheaton Precious Metals from C$131.00 to C$134.00 in a research report on Tuesday, June 10th. Finally, UBS Group cut Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of C$124.14.

Wheaton Precious Metals Stock Performance

Shares of TSE:WPM traded down C$0.07 during trading on Friday, reaching C$144.71. The stock had a trading volume of 1,282,306 shares, compared to its average volume of 758,478. Wheaton Precious Metals has a 1-year low of C$79.88 and a 1-year high of C$150.50. The stock has a market cap of C$65.69 billion, a PE ratio of 83.36 and a beta of 0.70. The business has a fifty day moving average price of C$133.37 and a 200-day moving average price of C$120.88.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, September 4th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is currently 36.87%.

Wheaton Precious Metals Company Profile

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.