Wheaton Precious Metals (NYSE:WPM) Hits New 12-Month High at $63.13

Wheaton Precious Metals Corp. (NYSE:WPM)’s share price hit a new 52-week high on Friday . The company traded as high as $63.13 and last traded at $62.55, with a volume of 433083 shares trading hands. The stock had previously closed at $61.37.

Analysts Set New Price Targets

A number of analysts have weighed in on WPM shares. Scotiabank raised their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. TD Securities cut their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Jefferies Financial Group raised their target price on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 12th. BMO Capital Markets raised their price target on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, Berenberg Bank raised their price target on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Wheaton Precious Metals Stock Up 1.9 %

The business’s 50 day moving average is $59.18 and its two-hundred day moving average is $53.80. The firm has a market cap of $28.37 billion, a P/E ratio of 48.15, a P/E/G ratio of 2.18 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The business had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. During the same quarter last year, the firm earned $0.31 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 12.9% on a year-over-year basis. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.4 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Hedge Funds Weigh In On Wheaton Precious Metals

Hedge funds have recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in Wheaton Precious Metals in the fourth quarter valued at $39,000. Dimensional Fund Advisors LP increased its stake in Wheaton Precious Metals by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 528,581 shares of the company’s stock valued at $26,081,000 after purchasing an additional 24,676 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Wheaton Precious Metals by 40.8% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,575 shares of the company’s stock valued at $620,000 after purchasing an additional 3,646 shares in the last quarter. Beacon Pointe Advisors LLC increased its stake in Wheaton Precious Metals by 59.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 104,305 shares of the company’s stock valued at $5,146,000 after purchasing an additional 38,798 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. increased its stake in Wheaton Precious Metals by 426.7% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 957,339 shares of the company’s stock valued at $47,460,000 after purchasing an additional 775,588 shares in the last quarter. Institutional investors own 70.34% 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.