Wheaton Precious Metals (TSE:WPM) Price Target Raised to C$85.00

Wheaton Precious Metals (TSE:WPM) had its price objective boosted by Eight Capital from C$82.50 to C$85.00 in a report issued on Monday, BayStreet.CA reports. Eight Capital currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on WPM. National Bank Financial downgraded shares of Wheaton Precious Metals from an outperform market weight rating to a sector perform overweight rating in a research note on Wednesday, February 21st. Stifel Nicolaus increased their price objective on shares of Wheaton Precious Metals from C$72.00 to C$80.00 and gave the stock a buy rating in a research note on Friday, April 19th. Veritas Investment Research increased their price objective on shares of Wheaton Precious Metals from C$67.00 to C$84.00 in a research note on Friday, April 12th. Finally, National Bankshares downgraded shares of Wheaton Precious Metals from an outperform rating to a sector perform rating and reduced their price objective for the stock from C$75.00 to C$68.00 in a research note on Friday, February 23rd.

Wheaton Precious Metals Trading Up 0.5 %

TSE:WPM opened at C$71.99 on Monday. Wheaton Precious Metals has a 52 week low of C$52.15 and a 52 week high of C$74.72. The company has a market capitalization of C$32.62 billion, a price-to-earnings ratio of 44.99 and a beta of 0.66. The business’s 50-day simple moving average is C$63.46.

Wheaton Precious Metals (TSE:WPM) last released its quarterly earnings results on Thursday, March 14th. The company reported C$0.49 EPS for the quarter, topping analysts’ consensus estimates of C$0.42 by C$0.07. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.85%. The business had revenue of C$426.80 million for the quarter, compared to analyst estimates of C$381.95 million. As a group, analysts anticipate that Wheaton Precious Metals will post 1.5534463 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were paid a $0.21 dividend. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 52.50%.

Insider Activity

In other Wheaton Precious Metals news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$62.02, for a total transaction of C$1,156,052.80. In other Wheaton Precious Metals news, Senior Officer Gary Duncan Brown sold 1,857 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of C$58.96, for a total transaction of C$109,491.69. Also, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total transaction of C$1,156,052.80. In the last three months, insiders have sold 20,664 shares of company stock worth $1,272,782. Corporate insiders own 0.17% of the company’s stock.

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.