Veritas Investment Research Boosts Wheaton Precious Metals (TSE:WPM) Price Target to C$84.00

Wheaton Precious Metals (TSE:WPM) had its target price hoisted by Veritas Investment Research from C$67.00 to C$84.00 in a research note published on Friday morning, BayStreet.CA reports.

Other equities research analysts also recently issued reports about the stock. National Bank Financial downgraded shares of Wheaton Precious Metals from an outperform market weight rating to a sector perform overweight rating in a report on Wednesday, February 21st. National Bankshares downgraded shares of Wheaton Precious Metals from an outperform rating to a sector perform rating and dropped their price objective for the company from C$75.00 to C$68.00 in a report on Friday, February 23rd. Finally, Stifel Nicolaus lowered their price target on shares of Wheaton Precious Metals from C$75.00 to C$72.00 and set a buy rating on the stock in a report on Monday, March 18th.

Wheaton Precious Metals Price Performance

TSE WPM opened at C$71.34 on Friday. Wheaton Precious Metals has a 1 year low of C$52.15 and a 1 year high of C$74.72. The firm has a market capitalization of C$32.32 billion, a PE ratio of 44.59 and a beta of 0.66.

Wheaton Precious Metals (TSE:WPM) last posted 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 company had revenue of C$426.80 million during the quarter, compared to analyst estimates of C$381.95 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.85%. Analysts forecast that Wheaton Precious Metals will post 1.5534463 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 15th will be given a dividend of $0.21 per share. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.84 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 52.50%.

Insiders Place Their Bets

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