Wheaton Precious Metals (TSE:WPM) Trading Up 4.5% - What's Next?

Key Points

• Wheaton Precious Metals shares jumped 4.5% to C$216.78 in mid-day trading, outperforming its prior close of C$207.45 despite trading volume running below average.
• Analyst sentiment remains positive, with the stock carrying an average “Buy” rating and a C$203.86 consensus price target; however, targets were mixed, including Peel Hunt’s reduction to C$187 and National Bank Financial’s increase to C$210.
• The company reported C$1.69 in quarterly EPS and C$1.32 billion in revenue, while maintaining a quarterly dividend of $0.195 per share, equivalent to a 0.4% yield.

Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report) shares shot up 4.5% on Tuesday . The company traded as high as C$217.89 and last traded at C$216.78. 657,686 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 807,810 shares. The stock had previously closed at C$207.45.

Analyst Ratings Changes

WPM has been the topic of several recent analyst reports. Peel Hunt decreased 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. National Bank Financial upped their target price on shares of Wheaton Precious Metals from C$205.00 to C$210.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat.com, Wheaton Precious Metals has an average rating of "Buy" and an average target price of C$203.86.

Wheaton Precious Metals Trading Up 4.5%

The company has a market cap of C$98.45 billion, a P/E ratio of 48.09 and a beta of 1.61. The firm has a 50 day moving average of C$189.18 and a 200-day moving average of C$182.21.

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

Wheaton Precious Metals Announces Dividend

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

Insiders Place Their Bets

In other Wheaton Precious Metals news, insider Nikola Tatarkin sold 3,733 shares of Wheaton Precious Metals stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of C$189.00, for a total value of C$705,537.00. Following the sale, the insider directly owned 30,756 shares in the company, valued at approximately C$5,812,884. The trade was a 10.82% decrease in their position. 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.

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