Wheaton Precious Metals (TSE:WPM) Upgraded by UBS Group to “Strong-Buy” Rating

UBS Group upgraded shares of Wheaton Precious Metals (TSE:WPM) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. Peel Hunt boosted their price target on Wheaton Precious Metals from C$82.00 to C$95.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Eight Capital upped their target price on shares of Wheaton Precious Metals from C$95.00 to C$100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. National Bankshares upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$90.00 to C$105.00 in a research note on Thursday, October 10th. National Bank Financial upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus lifted their target price on Wheaton Precious Metals from C$90.00 to C$102.00 in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$97.67.

Wheaton Precious Metals Price Performance

WPM stock opened at C$87.40 on Monday. Wheaton Precious Metals has a 1 year low of C$52.15 and a 1 year high of C$94.84. The company has a market cap of C$39.65 billion, a P/E ratio of 50.52 and a beta of 0.70. The stock’s fifty day moving average price is C$86.23 and its 200-day moving average price is C$80.61.

Wheaton Precious Metals Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, December 6th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is currently 48.55%.

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.