Wheaton Precious Metals Corp. (NYSE:WPM) to Issue Quarterly Dividend of $0.17

Wheaton Precious Metals Corp. (NYSE:WPM - Get Free Report) declared a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Shareholders of record on Tuesday, April 1st will be paid a dividend of 0.165 per share on Friday, April 11th. This represents a $0.66 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a 6.5% increase from Wheaton Precious Metals's previous quarterly dividend of $0.16.

Wheaton Precious Metals has raised its dividend by an average of 2.8% annually over the last three years. Wheaton Precious Metals has a payout ratio of 33.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Wheaton Precious Metals to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 36.1%.

Wheaton Precious Metals Trading Down 0.6 %

WPM traded down $0.49 on Tuesday, reaching $75.53. The stock had a trading volume of 1,731,137 shares, compared to its average volume of 1,580,807. Wheaton Precious Metals has a fifty-two week low of $43.18 and a fifty-two week high of $77.55. The firm has a 50-day moving average of $65.11 and a 200-day moving average of $62.80. The company has a market capitalization of $34.27 billion, a price-to-earnings ratio of 56.37, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). The firm had revenue of $380.52 million during the quarter, compared to analyst estimates of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. Wheaton Precious Metals's revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. Sell-side analysts anticipate that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WPM shares. Stifel Canada raised Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. UBS Group started coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They set a "buy" rating and a $78.00 target price on the stock. Finally, Scotiabank upped their target price on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Monday. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $72.44.

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.