Wheaton Precious Metals Corp. (NYSE:WPM) to Issue Quarterly Dividend of $0.16

Wheaton Precious Metals Corp. (NYSE:WPM) announced a quarterly dividend on Thursday, November 7th,NASDAQ Dividends reports. Shareholders of record on Thursday, November 21st will be given a dividend of 0.155 per share on Friday, December 6th. This represents a $0.62 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, November 21st.

Wheaton Precious Metals has raised its dividend by an average of 12.6% annually over the last three years. Wheaton Precious Metals has a dividend payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Wheaton Precious Metals to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 34.8%.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM traded up $0.48 during midday trading on Friday, reaching $64.89. 2,440,309 shares of the company’s stock were exchanged, compared to its average volume of 1,775,140. The firm’s 50 day simple moving average is $62.73 and its two-hundred day simple moving average is $58.48. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The stock has a market cap of $29.44 billion, a price-to-earnings ratio of 51.50, a P/E/G ratio of 2.29 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating 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 analysts’ expectations of $309.54 million. During the same period last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts predict that Wheaton Precious Metals will post 1.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WPM. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Scotiabank boosted their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Raymond James raised their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, TD Securities upped their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.88.

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.