Wheaton Precious Metals (NYSE:WPM) Sets New 12-Month High at $60.31

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) hit a new 52-week high during trading on Tuesday . The stock traded as high as $60.31 and last traded at $60.26, with a volume of 53080 shares trading hands. The stock had previously closed at $59.49.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Berenberg Bank lifted their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. BMO Capital Markets upped their price objective on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Jefferies Financial Group lifted their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Friday. Bank of America upped their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, CIBC boosted their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.00.

Wheaton Precious Metals Price Performance

The company has a market capitalization of $27.82 billion, a P/E ratio of 46.65, a price-to-earnings-growth ratio of 1.99 and a beta of 0.76. The firm’s 50-day moving average is $54.95 and its 200-day moving average is $49.93.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $296.80 million during the quarter, compared to analyst estimates of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. Wheaton Precious Metals’s revenue was up 38.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. As a group, analysts forecast that Wheaton Precious Metals Corp. will post 1.28 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.01%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPM. American Century Companies Inc. lifted its stake in shares of Wheaton Precious Metals by 21.8% during the 3rd quarter. American Century Companies Inc. now owns 695,377 shares of the company’s stock valued at $28,199,000 after buying an additional 124,422 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Wheaton Precious Metals by 98.8% in the third quarter. Wellington Management Group LLP now owns 71,667 shares of the company’s stock valued at $2,922,000 after acquiring an additional 35,616 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Wheaton Precious Metals by 1.6% in the third quarter. Vanguard Group Inc. now owns 16,203,069 shares of the company’s stock worth $657,034,000 after acquiring an additional 248,541 shares during the period. Dynamic Advisor Solutions LLC grew its position in shares of Wheaton Precious Metals by 11.1% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 7,691 shares of the company’s stock worth $366,000 after purchasing an additional 767 shares in the last quarter. Finally, Jeppson Wealth Management LLC raised its stake in Wheaton Precious Metals by 3.2% during the 4th quarter. Jeppson Wealth Management LLC now owns 29,075 shares of the company’s stock valued at $1,435,000 after purchasing an additional 900 shares during the period. Institutional investors own 70.34% of the company’s stock.

About Wheaton Precious Metals

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.