Wheaton Precious Metals (TSE:WPM) Price Target Raised to C$90.00

Wheaton Precious Metals (TSE:WPM) had its price target increased by Canaccord Genuity Group from C$80.00 to C$90.00 in a research note published on Tuesday, BayStreet.CA reports.

Several other research firms have also recently commented on WPM. Veritas Investment Research raised their target price on shares of Wheaton Precious Metals from C$67.00 to C$84.00 in a research report on Friday, April 12th. National Bankshares cut shares of Wheaton Precious Metals from an outperform rating to a sector perform rating and dropped their target price for the stock from C$75.00 to C$68.00 in a research report on Friday, February 23rd. National Bank Financial cut shares of Wheaton Precious Metals from an outperform market weight rating to a sector perform overweight rating in a research report on Wednesday, February 21st. Eight Capital raised their target price on shares of Wheaton Precious Metals from C$82.50 to C$85.00 and gave the stock a buy rating in a research report on Monday. Finally, Stifel Nicolaus raised their target price on shares of Wheaton Precious Metals from C$72.00 to C$80.00 and gave the stock a buy rating in a research report on Friday, April 19th.

Wheaton Precious Metals Stock Up 2.0 %

Shares of Wheaton Precious Metals stock opened at C$73.41 on Tuesday. Wheaton Precious Metals has a 52-week low of C$52.15 and a 52-week high of C$74.72. The stock has a market cap of C$33.26 billion, a PE ratio of 45.88 and a beta of 0.66. The firm has a fifty day simple moving average of C$63.66.

Wheaton Precious Metals (TSE:WPM) last announced its quarterly earnings results on Thursday, March 14th. The company reported C$0.49 earnings per share for the quarter, beating the consensus estimate of C$0.42 by C$0.07. The business had revenue of C$426.80 million during the quarter, compared to analysts’ expectations of C$381.95 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.85%. On average, analysts predict that Wheaton Precious Metals will post 1.5534463 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.84 annualized dividend and a yield of 1.14%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 52.50%.

Insider Buying and Selling

In related news, Senior Officer Gary Duncan Brown sold 1,857 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of C$58.96, for a total value of C$109,491.69. In other Wheaton Precious Metals news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$62.02, for a total value of C$1,156,052.80. Also, Senior Officer Gary Duncan Brown sold 1,857 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total transaction of C$109,491.69. Over the last quarter, insiders have sold 20,664 shares of company stock worth $1,272,782. 0.17% of the stock is owned by insiders.

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.