Wheaton Precious Metals Corp. (NYSE:WPM) to Issue Quarterly Dividend of $0.17

Wheaton Precious Metals Corp. (NYSE:WPM) announced a quarterly dividend on Friday, May 9th, Wall Street Journal reports. Shareholders of record on Wednesday, May 28th will be given a dividend of 0.165 per share on Tuesday, June 10th. This represents a $0.66 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Wednesday, May 28th.

Wheaton Precious Metals has increased its dividend payment by an average of 2.8% per year over the last three years and has increased its dividend every year for the last 2 years. Wheaton Precious Metals has a dividend payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Wheaton Precious Metals to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 36.1%.

Wheaton Precious Metals Trading Up 4.0 %

NYSE WPM opened at $85.76 on Friday. The stock has a fifty day simple moving average of $77.91 and a 200-day simple moving average of $67.74. The stock has a market cap of $38.92 billion, a PE ratio of 64.00, a P/E/G ratio of 1.91 and a beta of 0.49. Wheaton Precious Metals has a twelve month low of $51.96 and a twelve month high of $87.42.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. The company had revenue of $470.41 million during the quarter, compared to analyst estimates of $446.33 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. Wheaton Precious Metals’s revenue was up 58.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. Research analysts predict that Wheaton Precious Metals will post 1.46 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. National Bankshares reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd. Raymond James upped their target price on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Scotiabank increased their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a report on Monday, April 14th. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 price target for the company. Finally, CIBC increased their price objective on Wheaton Precious Metals from $95.00 to $105.00 and gave the company an “outperformer” rating in a research note on Friday. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $85.90.

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.