Wheaton Precious Metals (NYSE:WPM) Reaches New 1-Year High - Time to Buy?

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WPM shares. CIBC lifted their target price on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. Royal Bank of Canada boosted their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday. Scotiabank upped their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research report on Monday, April 14th. Finally, UBS Group lifted their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a report on Friday, April 11th. One 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $86.90.

Wheaton Precious Metals Stock Down 1.3%

The company has a 50-day moving average price of $81.72 and a 200-day moving average price of $70.25. The company has a market capitalization of $41.57 billion, a price-to-earnings ratio of 68.35, a P/E/G 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 return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. During the same period in the previous year, the business posted $0.36 EPS. The company's revenue for the quarter was up 58.4% on a year-over-year basis. Equities analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.72%. The ex-dividend date is Wednesday, May 28th. Wheaton Precious Metals's payout ratio is currently 48.53%.

Institutional Trading of Wheaton Precious Metals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $20,790,000. Sei Investments Co. raised its holdings in Wheaton Precious Metals by 25.7% in the 4th quarter. Sei Investments Co. now owns 40,769 shares of the company's stock valued at $2,293,000 after acquiring an additional 8,331 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Wheaton Precious Metals by 9.1% in the 4th quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company's stock worth $22,442,000 after acquiring an additional 33,256 shares during the period. Pacer Advisors Inc. lifted its position in shares of Wheaton Precious Metals by 5.7% in the 4th quarter. Pacer Advisors Inc. now owns 4,027 shares of the company's stock worth $226,000 after acquiring an additional 216 shares during the period. Finally, Gotham Asset Management LLC grew its holdings in shares of Wheaton Precious Metals by 83.8% during the 4th quarter. Gotham Asset Management LLC now owns 6,324 shares of the company's stock worth $356,000 after purchasing an additional 2,884 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Company Profile

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.