Wheaton Precious Metals Corp. (NYSE:WPM) Shareholders to Get $0.20 Quarterly Dividend

Key Points

• Wheaton Precious Metals declared a quarterly dividend of $0.195 per share, payable December 3 to shareholders of record November 19. That equals $0.78 annualized and a 0.6% yield.
• The dividend appears well covered: the payout ratio is 34.5%, and analysts expect it to fall to 17.2% based on projected earnings next year.
• The company slightly missed quarterly estimates, reporting $0.90 EPS versus $0.91 expected and $771.73 million in revenue versus $787.10 million expected. Analysts’ consensus rating is “Moderate Buy,” with a $172.11 average price target.

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) announced a quarterly dividend on Thursday, November 5th. Investors of record on Thursday, November 19th will be given a dividend of $0.1950 per share on Thursday, December 3rd. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, November 19th.

Wheaton Precious Metals has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Wheaton Precious Metals has a dividend payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Wheaton Precious Metals to earn $4.53 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 17.2%.

Wheaton Precious Metals Trading Up 0.7%

Shares of WPM stock opened at $132.42 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $139.02 and a 200-day simple moving average of $133.75. Wheaton Precious Metals has a fifty-two week low of $96.00 and a fifty-two week high of $165.76. The stock has a market cap of $60.15 billion, a P/E ratio of 29.36, a P/E/G ratio of 2.57 and a beta of 0.56.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.01). Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%. The business had revenue of $771.73 million for the quarter, compared to analyst estimates of $787.10 million. On average, analysts forecast that Wheaton Precious Metals will post 4.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WPM shares. UBS Group upped their target price on shares of Wheaton Precious Metals from $153.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, October 8th. Royal Bank Of Canada raised their price objective on Wheaton Precious Metals from $160.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, September 16th. Scotiabank decreased their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. Bank of America lowered their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Finally, Weiss Ratings lowered Wheaton Precious Metals from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, October 23rd. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $172.11.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the gold, silver, palladium and cobalt produced by specific mining operations at predetermined prices.

Wheaton sells the streamed metals to customers and uses the proceeds to support its operations and investments. Its portfolio is linked to mining assets operated by third parties, with exposure to projects in the Americas and other regions.

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