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

Key Points

• Wheaton Precious Metals reached a new 52-week high of C$142.42 during trading, with the last price recorded at C$141.07.
• Analyst ratings are mixed, with Canaccord Genuity raising the price objective to C$134.00, while UBS downgraded its rating from "strong-buy" to "hold."
• The company announced a quarterly dividend of $0.165 per share, reflecting a 0.5% yield and a payout ratio of 36.87%.

Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$142.42 and last traded at C$141.07, with a volume of 371096 shares trading hands. The stock had previously closed at C$139.93.

Analyst Ratings Changes

WPM has been the subject of several recent research reports. Canaccord Genuity Group boosted their price objective on Wheaton Precious Metals from C$131.00 to C$134.00 in a report on Tuesday, June 10th. UBS Group downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of C$110.86.

Wheaton Precious Metals Price Performance

The company has a market cap of C$64.27 billion, a price-to-earnings ratio of 81.55 and a beta of 0.74. The firm has a 50-day moving average price of C$128.30 and a 200 day moving average price of C$117.45.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, September 4th will be paid a $0.165 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.66 annualized dividend and a yield of 0.5%. 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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