Wheaton Precious Metals Corp. (TSE:WPM) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Wheaton Precious Metals has a consensus “Buy” rating from six brokerages: five rate it Buy and one Strong Buy. Analysts’ average 12-month price target is C$203.86.
• Analyst targets were mixed, with Peel Hunt cutting its target to C$187 while National Bank Financial raised its objective to C$210 and maintained an “outperform” rating.
• The stock opened at C$216.78 after rising 4.5%, near its 52-week high of C$226.68. The company also reported C$1.69 quarterly EPS, C$1.32 billion in revenue, and declared a C$0.195 quarterly dividend.

Shares of Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report) have been assigned a consensus rating of "Buy" from the six research firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$203.86.

WPM has been the topic of several analyst reports. Peel Hunt dropped their price target on shares of Wheaton Precious Metals from C$220.00 to C$187.00 in a research note on Wednesday, July 29th. National Bank Financial upped their price objective 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.

Insider Buying and Selling

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

Wheaton Precious Metals Stock Up 4.5%

Shares of TSE:WPM opened at C$216.78 on Wednesday. The company has a market capitalization of C$98.45 billion, a price-to-earnings ratio of 48.09 and a beta of 1.61. The company has a 50 day moving average of C$189.18 and a two-hundred day moving average of C$182.21. Wheaton Precious Metals has a 52-week low of C$129.69 and a 52-week high of C$226.68.

Wheaton Precious Metals (TSE:WPM - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported C$1.69 EPS for the quarter. The business had revenue of C$1.32 billion for the quarter. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 22.96%. On average, equities analysts anticipate that Wheaton Precious Metals will post 2.4749013 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were paid a $0.195 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.78 annualized dividend and a dividend yield of 0.4%. Wheaton Precious Metals's payout ratio is 15.97%.

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.

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