Wheaton Precious Metals Corp. (NYSE:WPM) Declares Dividend Increase – $0.16 Per Share

Wheaton Precious Metals Corp. (NYSE:WPMGet Free Report) declared a quarterly dividend on Thursday, March 14th, NASDAQ reports. Shareholders of record on Wednesday, April 3rd will be given a dividend of 0.155 per share on Monday, April 15th. This represents a $0.62 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, April 2nd. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15.

Wheaton Precious Metals has raised its dividend payment by an average of 12.6% per year over the last three years. Wheaton Precious Metals has a dividend payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Wheaton Precious Metals to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 44.8%.

Wheaton Precious Metals Trading Up 1.9 %

Shares of WPM opened at $47.13 on Monday. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $52.76. The company has a market capitalization of $21.35 billion, a price-to-earnings ratio of 39.61, a PEG ratio of 12.24 and a beta of 0.77. The stock has a 50 day moving average of $44.58 and a 200 day moving average of $45.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Wheaton Precious Metals by 54.7% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock worth $31,000 after buying an additional 280 shares during the period. Prospera Financial Services Inc grew its stake in shares of Wheaton Precious Metals by 2.0% in the 1st quarter. Prospera Financial Services Inc now owns 15,419 shares of the company’s stock worth $743,000 after buying an additional 299 shares during the last quarter. United Capital Financial Advisers LLC increased its position in Wheaton Precious Metals by 1.1% during the 1st quarter. United Capital Financial Advisers LLC now owns 30,649 shares of the company’s stock valued at $1,458,000 after buying an additional 343 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Wheaton Precious Metals by 4.9% during the first quarter. Steward Partners Investment Advisory LLC now owns 7,505 shares of the company’s stock valued at $361,000 after acquiring an additional 350 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Wheaton Precious Metals by 6.3% during the first quarter. Stephens Inc. AR now owns 6,146 shares of the company’s stock valued at $296,000 after acquiring an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on WPM shares. Scotiabank dropped their price objective on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 28th. TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and raised their price target for the company from $51.00 to $53.00 in a report on Monday, March 18th. Berenberg Bank lifted their price objective on Wheaton Precious Metals from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Raymond James decreased their target price on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Thursday, February 22nd. Finally, BMO Capital Markets lowered their target price on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.81.

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Wheaton Precious Metals Company Profile

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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 10, 2017. Wheaton Precious Metals Corp.

See Also

Dividend History for Wheaton Precious Metals (NYSE:WPM)

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