Wheaton Precious Metals (TSE:WPM) Sets New 52-Week High on Analyst Upgrade

Key Points

• Wheaton Precious Metals shares hit a new 52-week high after Peel Hunt increased its price target from C$149.00 to C$161.00, maintaining a buy rating on the stock.
• The company's quarterly dividend of $0.165 per share translates to an annual yield of 0.5%, with a payout ratio of 36.87%.
• Wheaton Precious Metals currently holds an average rating of "Buy" from analysts, with three strong buy ratings and a target price average of C$118.14.

Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report) shares reached a new 52-week high during trading on Tuesday after Peel Hunt raised their price target on the stock from C$149.00 to C$161.00. Peel Hunt currently has a buy rating on the stock. Wheaton Precious Metals traded as high as C$147.44 and last traded at C$145.06, with a volume of 317644 shares trading hands. The stock had previously closed at C$146.46.

Several other research analysts have also recently issued reports on the company. UBS Group cut Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Canaccord Genuity Group raised their target price on Wheaton Precious Metals from C$131.00 to C$134.00 in a research note on Tuesday, June 10th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals presently has an average rating of "Buy" and an average target price of C$118.14.

Wheaton Precious Metals Price Performance

The firm has a 50 day simple moving average of C$130.04 and a 200-day simple moving average of C$118.87. The company has a market cap of C$65.89 billion, a price-to-earnings ratio of 83.61 and a beta of 0.70.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, September 4th were issued 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 was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio (DPR) is 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.

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