Wheaton Precious Metals (TSE:WPM) Hits New 52-Week High - Still a Buy?

Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as C$111.37 and last traded at C$109.87, with a volume of 358817 shares traded. The stock had previously closed at C$109.67.

Analysts Set New Price Targets

A number of brokerages have issued reports on WPM. National Bankshares upped their price objective on Wheaton Precious Metals from C$115.00 to C$120.00 and gave the company an "outperform" rating in a research note on Monday, March 17th. Peel Hunt increased their price target on shares of 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. TD Securities lifted their price objective on shares of Wheaton Precious Metals from C$78.00 to C$83.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. CIBC increased their target price on shares of Wheaton Precious Metals from C$85.00 to C$88.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. Finally, Stifel Canada raised shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of C$98.38.

Wheaton Precious Metals Trading Down 1.5 %

The firm has a market cap of C$34.87 billion, a PE ratio of 57.21 and a beta of 0.70. The business has a fifty day moving average of C$99.19 and a 200-day moving average of C$90.24.

Remove Ads

Wheaton Precious Metals Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, April 11th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, April 1st. Wheaton Precious Metals's dividend payout ratio is presently 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.