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

Shares of Wheaton Precious Metals Corp. (TSE:WPM) hit a new 52-week high during trading on Monday . The company traded as high as C$125.81 and last traded at C$124.52, with a volume of 318097 shares. The stock had previously closed at C$118.91.

Wall Street Analysts Forecast Growth

WPM has been the topic of a number of recent analyst reports. Peel Hunt upped their target price on shares of Wheaton Precious Metals from C$95.00 to C$110.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. TD Securities upped their target price on shares of Wheaton Precious Metals from C$78.00 to C$83.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. National Bankshares upped their target price on shares of Wheaton Precious Metals from C$115.00 to C$120.00 and gave the company an “outperform” rating in a research note on Monday, March 17th. Finally, BMO Capital Markets raised shares of Wheaton Precious Metals to a “strong-buy” rating in a report on Tuesday, April 15th. Five investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$106.00.

Wheaton Precious Metals Stock Up 5.5%

The firm’s 50 day simple moving average is C$112.68 and its 200 day simple moving average is C$98.65. The company has a market cap of C$39.77 billion, a price-to-earnings ratio of 65.26 and a beta of 0.70.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 10th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.53%. Wheaton Precious Metals’s payout ratio is currently 43.71%.

About Wheaton Precious Metals

Wheaton Precious Metals is one of the largest precious metals streaming companies in the world. The Company has entered into agreements to purchase all or a portion of the precious metals or cobalt production from high-quality mines for an upfront payment and an additional payment upon delivery of the metal.