Wheaton Precious Metals (TSE:WPM) Given New C$90.00 Price Target at Canaccord Genuity Group

Wheaton Precious Metals (TSE:WPM) had its price target lifted by Canaccord Genuity Group from C$80.00 to C$90.00 in a research note issued to investors on Tuesday, BayStreet.CA reports.

A number of other research analysts have also issued reports on the company. National Bank Financial lowered Wheaton Precious Metals from an outperform market weight rating to a sector perform overweight rating in a research report on Wednesday, February 21st. National Bankshares lowered Wheaton Precious Metals from an outperform rating to a sector perform rating and reduced their price target for the stock from C$75.00 to C$68.00 in a research report on Friday, February 23rd. Eight Capital boosted their price target on Wheaton Precious Metals from C$82.50 to C$85.00 and gave the stock a buy rating in a research report on Monday. Stifel Nicolaus upped their price objective on Wheaton Precious Metals from C$72.00 to C$80.00 and gave the company a buy rating in a report on Friday, April 19th. Finally, Veritas Investment Research upped their price objective on Wheaton Precious Metals from C$67.00 to C$84.00 in a report on Friday, April 12th.

Wheaton Precious Metals Stock Up 2.0 %

Shares of TSE WPM opened at C$73.41 on Tuesday. Wheaton Precious Metals has a twelve month low of C$52.15 and a twelve month high of C$74.72. The company has a market cap of C$33.26 billion, a P/E ratio of 45.88 and a beta of 0.66. The firm has a 50 day moving average price of C$63.66.

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

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were given a $0.21 dividend. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.84 annualized dividend and a yield of 1.14%. The ex-dividend date was Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio is presently 52.50%.

Insider Activity

In other news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the stock in a transaction dated 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 related news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the 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. Also, Senior Officer Gary Duncan Brown sold 1,857 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total value of C$109,491.69. In the last quarter, insiders have sold 20,664 shares of company stock valued at $1,272,782. 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.