Wheaton Precious Metals (TSE:WPM) Stock Jumps 4.5% – Here’s What Happened

Shares of Wheaton Precious Metals Corp. (TSE:WPM) traded up 4.5% during mid-day trading on Tuesday. The company traded as high as C$217.89 and last traded at C$216.78. 657,686 shares were traded during trading, a decline of 19% from the average session volume of 807,810 shares. The stock had previously closed at C$207.45.

Analysts Set New Price Targets

Several research firms recently commented on WPM. Peel Hunt cut their target price on shares of Wheaton Precious Metals from C$220.00 to C$187.00 in a research note on Wednesday, July 29th. National Bank Financial boosted their price objective on shares of Wheaton Precious Metals from C$205.00 to C$210.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Buy” and an average price target of C$203.86.

Wheaton Precious Metals Trading Down 0.7%

The company has a market cap of C$92.44 billion, a price-to-earnings ratio of 45.15 and a beta of 1.61. The company has a fifty day moving average price of C$190.23 and a two-hundred day moving average price of C$182.24.

Wheaton Precious Metals (TSE:WPM) last issued its earnings results on Thursday, August 6th. The company reported C$1.69 EPS for the quarter. Wheaton Precious Metals had a return on equity of 22.96% and a net margin of 64.66%.The business had revenue of C$1.32 billion during the quarter. Sell-side 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 announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, September 3rd were paid a $0.1950 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, August 20th. Wheaton Precious Metals’s payout ratio is currently 15.97%.

Insider Buying and Selling at Wheaton Precious Metals

In related news, insider Nikola Tatarkin sold 3,733 shares of Wheaton Precious Metals stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of C$189.00, for a total transaction of C$705,537.00. Following the completion of the transaction, the insider directly owned 30,756 shares of the company’s stock, valued at C$5,812,884. This trade represents a 10.82% decrease in their position. Insiders own 0.13% of the company’s stock.

About Wheaton Precious Metals

Wheaton is the world’s premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. Wheaton is committed to strong ESG practices and giving back to the communities where Wheaton and its mining partners operate.