Wheaton Precious Metals (NYSE:WPM) Sets New 52-Week High at $54.45

Wheaton Precious Metals Corp. (NYSE:WPM)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $54.45 and last traded at $54.43, with a volume of 304439 shares changing hands. The stock had previously closed at $53.85.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WPM. Jefferies Financial Group increased their price target on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Scotiabank dropped their target price on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 28th. CIBC upped their target price on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. TD Securities upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating and boosted their target price for the company from $51.00 to $53.00 in a research note on Monday, March 18th. Finally, BMO Capital Markets lowered their price objective on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.32.

Wheaton Precious Metals Trading Up 0.9 %

The stock has a 50 day simple moving average of $48.42 and a 200 day simple moving average of $47.02. The stock has a market cap of $24.64 billion, a P/E ratio of 45.24, a price-to-earnings-growth ratio of 7.13 and a beta of 0.75.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, March 14th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $313.47 million during the quarter, compared to the consensus estimate of $284.29 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.26 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.14%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio (DPR) is 52.10%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WPM. First Eagle Investment Management LLC raised its stake in shares of Wheaton Precious Metals by 0.5% during the fourth quarter. First Eagle Investment Management LLC now owns 21,110,441 shares of the company’s stock valued at $1,041,589,000 after acquiring an additional 112,178 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Wheaton Precious Metals by 9.9% in the 4th quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock valued at $1,012,517,000 after buying an additional 1,856,031 shares during the last quarter. Vanguard Group Inc. increased its position in Wheaton Precious Metals by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 16,497,557 shares of the company’s stock valued at $813,989,000 after purchasing an additional 294,488 shares during the period. FIL Ltd raised its holdings in Wheaton Precious Metals by 5.5% during the 4th quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock worth $525,235,000 after purchasing an additional 550,804 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Wheaton Precious Metals in the 4th quarter worth approximately $387,481,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

About Wheaton Precious Metals

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.