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

Wheaton Precious Metals Corp. (NYSE:WPM) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Thursday, November 20th will be paid a dividend of 0.165 per share on Thursday, December 4th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, November 20th.

Wheaton Precious Metals has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Wheaton Precious Metals has a dividend payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Shares of NYSE WPM traded up $2.13 during trading on Friday, reaching $98.41. The stock had a trading volume of 952,795 shares, compared to its average volume of 1,981,243. The company has a market cap of $44.68 billion, a P/E ratio of 56.90, a PEG ratio of 1.67 and a beta of 0.38. The business’s 50-day moving average price is $104.05 and its 200-day moving average price is $94.43. Wheaton Precious Metals has a fifty-two week low of $55.47 and a fifty-two week high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $495.53 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. The business’s quarterly revenue was up 54.5% compared to the same quarter last year. Analysts forecast that Wheaton Precious Metals will post 1.46 EPS for the current fiscal year.

Analyst Ratings Changes

WPM has been the topic of several analyst reports. CIBC increased their price objective on Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Scotiabank reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Thursday, October 23rd. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. BMO Capital Markets restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Finally, Raymond James Financial lifted their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.00.

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.