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

Key Points

• Wheaton Precious Metals reached a new 52-week high, trading at C$155.76, and saw a significant volume with 258,369 shares traded.
• Analysts have issued mixed ratings with Canaccord raising their target to C$134.00 and UBS downgrading their rating to "hold," indicating a diverse outlook on the stock.
• The company also announced a quarterly dividend of $0.165, leading to an annualized yield of 0.4% with a payout ratio of 36.87%.

Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report) reached a new 52-week high on Monday . The company traded as high as C$155.94 and last traded at C$155.76, with a volume of 258369 shares traded. The stock had previously closed at C$152.01.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Canaccord Genuity Group increased their target price on Wheaton Precious Metals from C$131.00 to C$134.00 in a research report on Tuesday, June 10th. UBS Group lowered shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Peel Hunt lifted their price objective on shares of 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. Finally, CIBC upped their target price on shares of Wheaton Precious Metals from C$125.00 to C$130.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$128.17.

Wheaton Precious Metals Trading Up 1.2%

The firm's 50-day moving average price is C$136.86 and its 200-day moving average price is C$123.45. The stock has a market capitalization of C$69.84 billion, a PE ratio of 88.62 and a beta of 0.70.

Wheaton Precious Metals Dividend Announcement

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

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