Wheaton Precious Metals (TSE:WPM) Hits New 1-Year High - Here's What Happened

Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock 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.

Analyst Upgrades and Downgrades

WPM has been the subject of several analyst reports. Peel Hunt upped 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. Stifel Canada upgraded Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. TD Securities lifted their price target on Wheaton Precious Metals from C$78.00 to C$83.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. National Bankshares increased 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. Finally, CIBC lifted 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. Six analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$98.38.

Wheaton Precious Metals Trading Down 0.1 %

The stock has a market cap of C$31.90 billion, a PE ratio of 52.34 and a beta of 0.70. The business has a fifty day simple moving average of C$101.38 and a two-hundred day simple moving average of C$91.12.

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Wheaton Precious Metals Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Tuesday, April 1st. Wheaton Precious Metals's dividend payout ratio (DPR) 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.