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

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

A number of other research analysts also recently issued reports on the stock. Stifel Nicolaus lifted their price target 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. Eight Capital raised their price objective on shares of Wheaton Precious Metals from C$82.50 to C$85.00 and gave the stock a buy rating in a report on Monday, April 22nd. Veritas Investment Research lifted their target price on shares of Wheaton Precious Metals from C$67.00 to C$84.00 in a report on Friday, April 12th. National Bankshares cut shares of Wheaton Precious Metals from an outperform rating to a sector perform rating and dropped their price objective for the company from C$75.00 to C$68.00 in a research note on Friday, February 23rd. Finally, National Bank Financial cut 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.

Wheaton Precious Metals Trading Up 0.5 %

WPM opened at C$73.79 on Tuesday. Wheaton Precious Metals has a 52-week low of C$52.15 and a 52-week high of C$74.72. The stock has a market capitalization of C$33.43 billion, a P/E ratio of 46.12 and a beta of 0.66. The firm’s fifty day moving average is C$63.87.

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

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, April 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio is currently 52.50%.

Insider Buying and Selling

In other 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 business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of C$58.96, for a total value of C$109,491.69. Also, Senior Officer Patrick Eugene Drouin sold 18,640 shares of Wheaton Precious Metals stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total value of C$1,156,052.80. In the last quarter, insiders sold 20,664 shares of company stock valued at $1,272,782. 0.17% of the stock is currently owned by corporate insiders.

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.