Wheaton Precious Metals (TSE:WPM) Reaches New 52-Week High Following Analyst Upgrade

Wheaton Precious Metals Corp. (TSE:WPM)’s share price reached a new 52-week high on Monday after Stifel Nicolaus raised their price target on the stock from C$107.00 to C$141.00. The stock traded as high as C$120.60 and last traded at C$117.28, with a volume of 322388 shares. The stock had previously closed at C$116.36.

WPM has been the topic of a number of other reports. National Bankshares upped their target price on shares of Wheaton Precious Metals from C$115.00 to C$120.00 and gave the company an “outperform” rating in a report on Monday, March 17th. TD Securities boosted their price target on Wheaton Precious Metals from C$78.00 to C$83.00 and gave the company a “buy” rating in a report on Friday, March 14th. BMO Capital Markets upgraded Wheaton Precious Metals to a “strong-buy” rating in a report on Tuesday, April 15th. Peel Hunt lifted their price objective on Wheaton Precious Metals from C$95.00 to C$110.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Finally, Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$106.00.

Wheaton Precious Metals Price Performance

The business’s 50-day simple moving average is C$105.21 and its two-hundred day simple moving average is C$93.05. The stock has a market capitalization of C$37.37 billion, a price-to-earnings ratio of 61.32 and a beta of 0.70.

Wheaton Precious Metals Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, April 11th were issued a dividend of $0.165 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.66 annualized dividend and a dividend yield of 0.56%. Wheaton Precious Metals’s payout ratio is 43.71%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.