Wheaton Precious Metals (NYSE:WPM) Hits New 1-Year High at $54.45

Wheaton Precious Metals Corp. (NYSE:WPM)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $54.45 and last traded at $53.95, with a volume of 167296 shares trading hands. The stock had previously closed at $53.73.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WPM shares. Raymond James dropped their target price on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. BMO Capital Markets dropped their price objective on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Jefferies Financial Group lifted their price objective on Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. TD Securities upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $51.00 to $53.00 in a report on Monday, March 18th. Finally, CIBC lifted their price objective on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.32.

Wheaton Precious Metals Trading Up 0.5 %

The company has a market cap of $24.48 billion, a price-to-earnings ratio of 45.38, a price-to-earnings-growth ratio of 7.28 and a beta of 0.77. The firm has a 50-day moving average price of $46.73 and a 200 day moving average price of $46.43.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, March 14th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $313.47 million during the quarter, compared to analyst estimates of $284.29 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. Research analysts anticipate that Wheaton Precious Metals Corp. will post 1.25 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s payout ratio is currently 52.10%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC acquired a new position in Wheaton Precious Metals during the 4th quarter valued at approximately $26,000. McGlone Suttner Wealth Management Inc. acquired a new position in Wheaton Precious Metals during the 4th quarter valued at approximately $31,000. Principal Securities Inc. acquired a new position in Wheaton Precious Metals during the 4th quarter valued at approximately $39,000. Fifth Third Bancorp boosted its position in Wheaton Precious Metals by 230.7% during the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after purchasing an additional 602 shares during the period. Finally, Mechanics Financial Corp boosted its position in Wheaton Precious Metals by 200.0% during the 3rd quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock valued at $36,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

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.