Wheaton Precious Metals Corp. (TSE:WPM) Given Consensus Recommendation of “Buy” by Brokerages

Wheaton Precious Metals Corp. (TSE:WPM) has been assigned an average rating of “Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$71.47.

Several brokerages recently commented on WPM. National Bank Financial raised their price objective on Wheaton Precious Metals to C$75.00 and gave the company an “outperform” rating in a research note on Thursday, May 20th. Canaccord Genuity raised their price objective on Wheaton Precious Metals from C$70.00 to C$72.00 and gave the company a “na” rating in a research note on Friday, July 16th. Eight Capital lowered their price objective on Wheaton Precious Metals from C$90.00 to C$85.00 and set a “buy” rating for the company in a research note on Tuesday, April 20th. JPMorgan Chase & Co. raised their price objective on Wheaton Precious Metals from C$70.00 to C$75.00 and gave the company a “na” rating in a research note on Tuesday, July 13th. Finally, Credit Suisse Group raised their price objective on Wheaton Precious Metals to C$60.00 and gave the company an “outperform” rating in a research note on Wednesday, May 19th.

Shares of Wheaton Precious Metals stock traded down C$0.23 during trading hours on Thursday, reaching C$55.22. The stock had a trading volume of 556,549 shares, compared to its average volume of 1,013,240. The business’s 50 day simple moving average is C$56.22. The firm has a market capitalization of C$24.85 billion and a price-to-earnings ratio of 34.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.08 and a quick ratio of 2.03. Wheaton Precious Metals has a 1 year low of C$44.09 and a 1 year high of C$76.69.

Wheaton Precious Metals (TSE:WPM) last announced its earnings results on Thursday, May 6th. The company reported C$0.46 EPS for the quarter, beating the consensus estimate of C$0.45 by C$0.01. The company had revenue of C$410.46 million for the quarter, compared to analysts’ expectations of C$391.89 million. On average, equities analysts predict that Wheaton Precious Metals will post 1.6599999 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 3rd. Shareholders of record on Friday, May 21st were given a $0.172 dividend. The ex-dividend date of this dividend was Thursday, May 20th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.25%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.17. Wheaton Precious Metals’s payout ratio is currently 28.16%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects. The company was formerly known as Silver Wheaton Corp.

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Analyst Recommendations for Wheaton Precious Metals (TSE:WPM)

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