Wheaton Precious Metals (TSE:WPM) Hits New 1-Year High – Here’s Why

Wheaton Precious Metals Corp. (TSE:WPM) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$97.57 and last traded at C$97.29, with a volume of 169460 shares trading hands. The stock had previously closed at C$95.48.

Analyst Ratings Changes

WPM has been the topic of a number of research reports. UBS Group upgraded shares of Wheaton Precious Metals to a “strong-buy” rating in a report on Monday, November 18th. Stifel Nicolaus increased their price objective on Wheaton Precious Metals from C$90.00 to C$102.00 in a research note on Monday, October 21st. Finally, Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$97.67.

Wheaton Precious Metals Stock Performance

The business has a 50-day simple moving average of C$85.90 and a two-hundred day simple moving average of C$84.89. The company has a market capitalization of C$44.03 billion, a price-to-earnings ratio of 56.11 and a beta of 0.70.

Wheaton Precious Metals Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, December 6th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a yield of 0.87%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 48.55%.

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.