Wheaton Precious Metals (NYSE:WPM) Sets New 12-Month High – Here’s Why

Wheaton Precious Metals Corp. (NYSE:WPM) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $77.44 and last traded at $75.53, with a volume of 2006908 shares traded. The stock had previously closed at $76.02.

Analyst Ratings Changes

WPM has been the subject of a number of research reports. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Scotiabank lifted their target price on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Monday. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $72.44.

Wheaton Precious Metals Stock Down 0.8 %

The company has a fifty day moving average of $66.21 and a two-hundred day moving average of $63.07. The stock has a market capitalization of $34.29 billion, a price-to-earnings ratio of 56.41, a P/E/G ratio of 1.91 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $380.52 million for the quarter, compared to analysts’ expectations of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.165 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a yield of 0.87%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.16. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 49.25%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of large investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Wheaton Precious Metals during the fourth quarter worth $20,790,000. Charles Schwab Investment Management Inc. grew its stake in shares of Wheaton Precious Metals by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock worth $58,422,000 after purchasing an additional 36,970 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Wheaton Precious Metals in the 3rd quarter valued at about $1,287,000. CWA Asset Management Group LLC lifted its stake in shares of Wheaton Precious Metals by 19.7% in the fourth quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock valued at $9,196,000 after purchasing an additional 26,924 shares during the period. Finally, King Luther Capital Management Corp boosted its holdings in Wheaton Precious Metals by 48.1% during the third quarter. King Luther Capital Management Corp now owns 1,501,037 shares of the company’s stock worth $91,683,000 after buying an additional 487,190 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

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.