Wheaton Precious Metals (TSE:WPM) Sets New 12-Month High – Here’s What Happened

Wheaton Precious Metals Corp. (TSE:WPM)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$112.90 and last traded at C$110.15, with a volume of 481975 shares traded. The stock had previously closed at C$111.22.

Wall Street Analysts Forecast Growth

WPM has been the topic of several analyst reports. National Bankshares raised their price target on shares of Wheaton Precious Metals from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th. Peel Hunt raised their price target on Wheaton Precious Metals from C$95.00 to C$110.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. TD Securities upped their price objective on shares of Wheaton Precious Metals from C$78.00 to C$83.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, CIBC upped their price target on shares of Wheaton Precious Metals from C$85.00 to C$88.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Six analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$98.38.

Wheaton Precious Metals Stock Performance

The firm has a market cap of C$32.01 billion, a price-to-earnings ratio of 52.52 and a beta of 0.70. The company’s fifty day moving average is C$100.53 and its two-hundred day moving average is C$90.79.

Wheaton Precious Metals Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, April 11th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, April 1st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 43.71%.

Wheaton Precious Metals Company Profile

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.