Wheaton Precious Metals (NYSE:WPM) Hits New 1-Year High - What's Next?

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as $91.77 and last traded at $91.12, with a volume of 449769 shares changing hands. The stock had previously closed at $86.75.

Analysts Set New Price Targets

WPM has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research report on Friday, April 11th. BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price objective for the company. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. CIBC upped their price objective on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a research report on Friday, May 9th. Finally, Raymond James upped their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $86.90.

Wheaton Precious Metals Price Performance

The firm's 50-day moving average price is $82.23 and its 200 day moving average price is $70.64. The firm has a market cap of $40.26 billion, a P/E ratio of 66.20, a PEG ratio of 1.91 and a beta of 0.49.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $470.41 million for the quarter, compared to analysts' expectations of $446.33 million. During the same quarter last year, the company posted $0.36 earnings per share. The company's quarterly revenue was up 58.4% compared to the same quarter last year. Analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a yield of 0.74%. Wheaton Precious Metals's dividend payout ratio is currently 48.53%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of large investors have recently bought and sold shares of WPM. Norges Bank bought a new position in Wheaton Precious Metals in the fourth quarter worth about $472,648,000. Capital International Investors bought a new position in Wheaton Precious Metals in the fourth quarter worth about $263,810,000. Arrowstreet Capital Limited Partnership bought a new position in Wheaton Precious Metals in the fourth quarter worth about $72,657,000. Van ECK Associates Corp lifted its holdings in Wheaton Precious Metals by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock worth $1,154,843,000 after acquiring an additional 1,231,999 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Wheaton Precious Metals by 54.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock worth $181,227,000 after acquiring an additional 1,135,699 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.