Wheaton Precious Metals (TSE:WPM) Sets New 1-Year High - Here's What Happened

Key Points

• Wheaton Precious Metals reached a new 52-week high with its stock trading as high as C$150.99, reflecting a strong market presence with 476,126 shares changing hands.
• Several analysts have raised their price targets for the stock, with estimates ranging from C$130.00 to C$161.00, indicating a generally positive outlook with a consensus rating of "Buy."
• The company recently announced a quarterly dividend of $0.165, translating to an annualized dividend yield of 0.4% and a payout ratio of 36.87%.

Shares of Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$150.99 and last traded at C$148.50, with a volume of 476126 shares. The stock had previously closed at C$148.53.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WPM shares. Peel Hunt raised their price objective on Wheaton Precious Metals from C$149.00 to C$161.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Canaccord Genuity Group raised their price objective on shares of Wheaton Precious Metals from C$131.00 to C$134.00 in a research note on Tuesday, June 10th. CIBC lifted their price target on shares of Wheaton Precious Metals from C$125.00 to C$130.00 and gave the company an "outperform" rating in a research note on Friday, September 12th. Finally, UBS Group downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$124.14.

Wheaton Precious Metals Stock Performance

The firm's 50 day moving average is C$134.76 and its 200-day moving average is C$122.15. The company has a market cap of C$67.61 billion, a PE ratio of 85.79 and a beta of 0.70.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, September 4th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 36.87%.

About Wheaton Precious Metals

Wheaton Precious Metals is one of the largest precious metals streaming companies in the world. The Company has entered into agreements to purchase all or a portion of the precious metals or cobalt production from high-quality mines for an upfront payment and an additional payment upon delivery of the metal.