Wheaton Precious Metals (TSE:WPM) Sets New 12-Month High - Here's Why

Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as C$125.81 and last traded at C$124.52, with a volume of 318097 shares trading hands. The stock had previously closed at C$118.91.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WPM shares. Stifel Canada upgraded Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. National Bankshares boosted their target price on Wheaton Precious Metals from C$115.00 to C$120.00 and gave the company an "outperform" rating in a research note on Monday, March 17th. BMO Capital Markets upgraded Wheaton Precious Metals to a "strong-buy" rating in a research note on Tuesday, April 15th. Stifel Nicolaus boosted their target price on Wheaton Precious Metals from C$107.00 to C$141.00 in a research note on Monday, April 21st. Finally, Peel Hunt boosted their target price on Wheaton Precious Metals from C$95.00 to C$110.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Five investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$106.00.

Wheaton Precious Metals Stock Performance

The stock has a market cap of C$40.27 billion, a price-to-earnings ratio of 66.08 and a beta of 0.70. The company has a 50-day simple moving average of C$113.70 and a two-hundred day simple moving average of C$99.44.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Wednesday, May 28th. Wheaton Precious Metals's payout ratio is presently 43.71%.

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.