Wheaton Precious Metals (NYSE:WPM) Sets New 12-Month High – Here’s What Happened

Wheaton Precious Metals Corp. (NYSE:WPM) reached a new 52-week high during trading on Monday . The company traded as high as $125.62 and last traded at $124.1280, with a volume of 433657 shares traded. The stock had previously closed at $117.87.

Wall Street Analysts Forecast Growth

WPM has been the topic of several recent research reports. Bank of America lifted their price target on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Jefferies Financial Group restated a “buy” rating and set a $145.00 price objective on shares of Wheaton Precious Metals in a report on Sunday, December 7th. Scotiabank reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. Finally, Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.78.

Wheaton Precious Metals Stock Up 4.6%

The firm has a market capitalization of $55.99 billion, a PE ratio of 56.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The business’s 50-day moving average price is $108.18 and its 200-day moving average price is $101.95.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. The firm had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The company’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. On average, analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 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. Stockholders of record on Thursday, November 20th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 30.00%.

Hedge Funds Weigh In On Wheaton Precious Metals

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in Wheaton Precious Metals during the first quarter worth $331,000. Integrated Wealth Concepts LLC bought a new position in Wheaton Precious Metals in the 1st quarter worth $2,885,000. Scientech Research LLC lifted its position in Wheaton Precious Metals by 21.0% during the 1st quarter. Scientech Research LLC now owns 8,059 shares of the company’s stock worth $626,000 after acquiring an additional 1,396 shares during the last quarter. Guardian Partners Inc. bought a new stake in Wheaton Precious Metals during the first quarter valued at about $538,000. Finally, United Services Automobile Association boosted its holdings in Wheaton Precious Metals by 3.2% during the first quarter. United Services Automobile Association now owns 15,478 shares of the company’s stock valued at $1,191,000 after acquiring an additional 484 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.