Wheaton Precious Metals (TSE:WPM) Reaches New 1-Year High Following 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)'s share price hit a new 52-week high during trading on Tuesday after CIBC raised their price target on the stock from C$125.00 to C$130.00. CIBC currently has an outperform 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 changing hands. The stock had previously closed at C$146.46.

Several other research firms also recently commented on WPM. Canaccord Genuity Group upped their price objective on Wheaton Precious Metals from C$131.00 to C$134.00 in a research note on Tuesday, June 10th. UBS Group downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. Finally, Peel Hunt boosted their price target on shares of Wheaton Precious Metals from C$149.00 to C$161.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Wheaton Precious Metals currently has a consensus rating of "Buy" and an average target price of C$124.14.

Wheaton Precious Metals Price Performance

The company has a 50-day moving average of C$131.95 and a two-hundred day moving average of C$120.06. The stock has a market capitalization of C$67.02 billion, a PE ratio of 85.04 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. Investors of record on Thursday, September 4th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 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.