Wheaton Precious Metals (TSE:WPM) Reaches New 52-Week High – Here’s Why

Wheaton Precious Metals Corp. (TSE:WPM)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$173.16 and last traded at C$170.33, with a volume of 214935 shares traded. The stock had previously closed at C$161.94.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WPM shares. CIBC increased their price target on Wheaton Precious Metals from C$125.00 to C$130.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Peel Hunt increased their target price on Wheaton Precious Metals from C$162.00 to C$165.00 in a report on Wednesday, November 12th. Royal Bank Of Canada raised Wheaton Precious Metals from a “hold” rating to a “moderate buy” rating and set a C$130.00 target price on the stock in a research report on Wednesday, December 10th. Finally, Canaccord Genuity Group upped their price target on shares of Wheaton Precious Metals from C$144.00 to C$172.00 in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$134.43.

Wheaton Precious Metals Stock Performance

The company has a market capitalization of C$75.53 billion, a P/E ratio of 75.52 and a beta of 1.01. The stock has a fifty day moving average of C$150.36 and a 200 day moving average of C$141.09.

Wheaton Precious Metals (TSE:WPM) last issued its quarterly earnings results on Friday, November 7th. The company reported C$0.62 EPS for the quarter. Wheaton Precious Metals had a return on equity of 8.56% and a net margin of 50.05%.The business had revenue of C$663.15 million during the quarter. Research analysts anticipate that Wheaton Precious Metals Corp. will post 2.4749013 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, December 4th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.66 annualized dividend and a yield of 0.4%. Wheaton Precious Metals’s payout ratio is currently 29.51%.

About Wheaton Precious Metals

Wheaton Precious Metals is one of the largest precious metals streaming companies in the world. The Company has entered into agreements to purchase all or a portion of the precious metals or cobalt production from high-quality mines for an upfront payment and an additional payment upon delivery of the metal. Wheaton currently has streaming agreements for 21 operating mines and 13 development stage projects. The Company’s production profile is driven by a portfolio of low-cost, long-life assets, including a gold stream on Vale’s Salobo mine, and a silver stream on Newmont’s Penasquito mine.