Wheaton Precious Metals Corp. (WPM) To Go Ex-Dividend on May 28th

Wheaton Precious Metals Corp. (NYSE:WPM) declared a quarterly dividend on Friday, May 9th, Wall Street Journal reports. Shareholders of record on Wednesday, May 28th will be paid a dividend of 0.165 per share on Tuesday, June 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Wednesday, May 28th.

Wheaton Precious Metals has increased its dividend by an average of 2.8% annually over the last three years and has increased its dividend every year for the last 2 years. Wheaton Precious Metals has a payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Wheaton Precious Metals to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 36.1%.

Wheaton Precious Metals Stock Up 4.0 %

NYSE:WPM opened at $85.76 on Friday. The stock has a market capitalization of $38.92 billion, a PE ratio of 64.00, a price-to-earnings-growth ratio of 1.91 and a beta of 0.49. Wheaton Precious Metals has a 52 week low of $51.96 and a 52 week high of $87.42. The stock’s 50-day moving average price is $77.91 and its 200-day moving average price is $67.74.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business had revenue of $470.41 million during the quarter, compared to analysts’ expectations of $446.33 million. During the same period in the previous year, the business earned $0.36 earnings per share. The business’s revenue was up 58.4% compared to the same quarter last year. Sell-side analysts expect that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Raymond James increased their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, April 15th. UBS Group raised their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Royal Bank of Canada boosted their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, April 4th. Scotiabank raised their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research report on Monday, April 14th. Finally, National Bankshares reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $85.90.

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.