Wheaton Precious Metals (TSE:WPM) Price Target Increased to C$85.00 by Analysts at Eight Capital

Wheaton Precious Metals (TSE:WPM) had its price objective raised by Eight Capital from C$82.50 to C$85.00 in a research note issued to investors on Monday, BayStreet.CA reports. They currently have a buy rating on the stock.

WPM has been the subject of several other reports. National Bankshares downgraded Wheaton Precious Metals from an outperform rating to a sector perform rating and reduced their price objective for the company from C$75.00 to C$68.00 in a research note on Friday, February 23rd. Stifel Nicolaus raised their target price on Wheaton Precious Metals from C$72.00 to C$80.00 and gave the stock a buy rating in a research note on Friday. National Bank Financial downgraded Wheaton Precious Metals from an outperform market weight rating to a sector perform overweight rating in a research note on Wednesday, February 21st. Finally, Veritas Investment Research raised their target price on Wheaton Precious Metals from C$67.00 to C$84.00 in a research note on Friday, April 12th.

Wheaton Precious Metals Trading Down 2.5 %

WPM opened at C$70.59 on Monday. Wheaton Precious Metals has a 52-week low of C$52.15 and a 52-week high of C$74.72. The firm has a market capitalization of C$31.98 billion, a P/E ratio of 44.12 and a beta of 0.66. The firm’s 50-day moving average is C$63.09.

Wheaton Precious Metals (TSE:WPM) last issued its earnings results on Thursday, March 14th. The company reported C$0.49 EPS for the quarter, beating analysts’ consensus estimates of C$0.42 by C$0.07. The firm had revenue of C$426.80 million for the quarter, compared to analyst estimates of C$381.95 million. Wheaton Precious Metals had a return on equity of 7.85% and a net margin of 52.92%. On average, research analysts expect that Wheaton Precious Metals will post 1.5534463 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were issued a dividend of $0.21 per share. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.84 annualized dividend and a dividend yield of 1.19%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 52.50%.

Insider Activity at Wheaton Precious Metals

In related news, Senior Officer Gary Duncan Brown sold 1,857 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of C$58.96, for a total value of C$109,491.69. In other Wheaton Precious Metals news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of Wheaton Precious Metals stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total value of C$1,156,052.80. Also, Senior Officer Gary Duncan Brown sold 1,857 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total value of C$109,491.69. Insiders have sold 20,664 shares of company stock worth $1,272,782 in the last quarter. Company insiders own 0.17% 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.