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

Key Points

• Wheaton Precious Metals' stock reached a new 12-month high of C$135.75, with a trading volume of 573,747 shares on the recent trading day.
• Analysts have raised their target prices for Wheaton Precious Metals, with Canaccord Genuity setting it at C$134.00 and Stifel Nicolaus at C$141.00, indicating a general strong-buy sentiment from multiple research firms.
• The company has declared a quarterly dividend of $0.165, resulting in an annualized yield of 0.5%, reflecting a payout ratio of 43.71%.

Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as C$135.75 and last traded at C$135.35, with a volume of 573747 shares. The stock had previously closed at C$127.06.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WPM shares. BMO Capital Markets upgraded shares of Wheaton Precious Metals to a "strong-buy" rating in a report on Tuesday, April 15th. Canaccord Genuity Group lifted their price target on shares of Wheaton Precious Metals from C$131.00 to C$134.00 in a report on Tuesday, June 10th. Finally, Stifel Nicolaus lifted their target price on shares of Wheaton Precious Metals from C$107.00 to C$141.00 in a research note on Monday, April 21st. Five analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of C$110.86.

Wheaton Precious Metals Stock Up 1.0%

The business's 50 day moving average is C$125.25 and its two-hundred day moving average is C$112.65. The firm has a market cap of C$43.94 billion, a P/E ratio of 72.10 and a beta of 0.70.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, June 10th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 43.71%.

Wheaton Precious Metals Company Profile

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.