Wheaton Precious Metals Corp. (TSE:WPM) Receives Average Recommendation of “Buy” from Brokerages

Wheaton Precious Metals Corp. (TSE:WPM) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is C$205.62.

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Wheaton Precious Metals from C$240.00 to C$250.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. UBS Group raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Friday, March 27th. BMO Capital Markets upped their target price on shares of Wheaton Precious Metals from C$240.00 to C$250.00 in a research report on Wednesday, April 22nd. National Bank Financial increased their target price on shares of Wheaton Precious Metals from C$240.00 to C$245.00 and gave the company an “outperform” rating in a report on Monday, March 16th. Finally, TD Securities lifted their price target on shares of Wheaton Precious Metals from C$164.00 to C$165.00 and gave the company a “buy” rating in a research report on Monday, March 16th.

Insiders Place Their Bets

In other news, insider Vincent Chun Yip Lau acquired 225 shares of Wheaton Precious Metals stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of C$176.85 per share, with a total value of C$39,791.25. Following the completion of the acquisition, the insider owned 1,065 shares in the company, valued at C$188,345.25. This trade represents a 26.79% increase in their position. 0.13% of the stock is owned by insiders.

Wheaton Precious Metals Stock Performance

TSE:WPM opened at C$156.83 on Friday. The stock has a fifty day moving average price of C$171.85 and a two-hundred day moving average price of C$182.97. The stock has a market capitalization of C$71.22 billion, a price-to-earnings ratio of 39.63 and a beta of 1.40. Wheaton Precious Metals has a 1 year low of C$120.60 and a 1 year high of C$226.68.

Wheaton Precious Metals (TSE:WPM) last issued its earnings results on Thursday, May 7th. The company reported C$1.78 EPS for the quarter. The company had revenue of C$1.25 billion for the quarter. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 21.32%. On average, analysts predict that Wheaton Precious Metals will post 2.4749013 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, June 9th were issued a $0.195 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio is currently 17.44%.

About Wheaton Precious Metals

Wheaton is the world’s premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. Wheaton is committed to strong ESG practices and giving back to the communities where Wheaton and its mining partners operate.