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

Shares of Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report) 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 trading hands. The stock had previously closed at C$116.36.

Other analysts have also recently issued reports about the company. National Bankshares increased their price objective on Wheaton Precious Metals from C$115.00 to C$120.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. BMO Capital Markets raised shares of Wheaton Precious Metals to a "strong-buy" rating in a research note on Tuesday, April 15th. CIBC raised their target price on shares of Wheaton Precious Metals from C$85.00 to C$88.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Finally, Peel Hunt boosted their price target on shares of 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. Five analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of C$106.00.

Wheaton Precious Metals Stock Performance

The firm has a market cap of C$35.72 billion, a price-to-earnings ratio of 58.61 and a beta of 0.70. The business has a fifty day moving average of C$106.27 and a two-hundred day moving average of C$93.70.

Wheaton Precious Metals Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, April 11th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Tuesday, April 1st. Wheaton Precious Metals's dividend payout ratio is currently 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.