Wheaton Precious Metals (TSE:WPM) Hits New 52-Week High - Here's Why

Key Points

• Wheaton Precious Metals Corp. reached a new 52-week high of C$160.44 during trading, closing at C$159.19 with a trading volume of 401,603 shares.
• Analysts have mixed ratings for the stock, with two giving it a Strong Buy, four a Buy, and one a Hold, reflecting a consensus rating of "Buy" and an average price target of C$134.50.
• The company recently declared a quarterly dividend of $0.165, resulting in an annualized dividend yield of 0.4% with a payout ratio of 36.87%.

Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as C$160.44 and last traded at C$159.19, with a volume of 401603 shares. The stock had previously closed at C$154.88.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WPM shares. UBS Group cut shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Canaccord Genuity Group lifted their price target on shares of Wheaton Precious Metals from C$144.00 to C$172.00 in a report on Thursday, October 2nd. Peel Hunt lifted their price target on shares of Wheaton Precious Metals from C$149.00 to C$161.00 and gave the company a "buy" rating in a report on Monday, September 8th. Finally, CIBC boosted their target price on shares of Wheaton Precious Metals from C$125.00 to C$130.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of "Buy" and an average price target of C$134.50.

Wheaton Precious Metals Stock Performance

The firm has a 50-day moving average price of C$142.85 and a 200-day moving average price of C$127.14. The stock has a market cap of C$72.36 billion, a PE ratio of 91.83 and a beta of 0.91.

Wheaton Precious Metals Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.