Wheaton Precious Metals (TSE:WPM) Reaches New 12-Month High Following Analyst Upgrade

Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report) shares reached a new 52-week high during trading on Monday after Stifel Nicolaus raised their price target on the stock from C$107.00 to C$141.00. The stock traded as high as C$120.60 and last traded at C$117.28, with a volume of 322388 shares. The stock had previously closed at C$116.36.

WPM has been the topic of a number of other reports. TD Securities upped their target price on shares of Wheaton Precious Metals from C$78.00 to C$83.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Peel Hunt increased their price objective on shares of Wheaton Precious Metals from C$95.00 to C$110.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Stifel Canada raised shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. BMO Capital Markets raised Wheaton Precious Metals to a "strong-buy" rating in a report on Tuesday, April 15th. Finally, National Bankshares lifted their price target on Wheaton Precious Metals from C$115.00 to C$120.00 and gave the stock an "outperform" rating in a report on Monday, March 17th. Five investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of C$106.00.

Wheaton Precious Metals Stock Down 0.6 %

The firm has a fifty day simple moving average of C$106.58 and a 200-day simple moving average of C$93.91. The company has a market cap of C$35.88 billion, a PE ratio of 58.88 and a beta of 0.70.

Wheaton Precious Metals Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, April 11th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a yield of 0.58%. Wheaton Precious Metals's dividend payout ratio is presently 43.71%.

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.