Wheaton Precious Metals Corp. (NYSE:WPM) Raises Dividend to $0.16 Per Share
Wheaton Precious Metals Corp. (NYSE:WPM – Get Free Report) announced a dividend on Thursday, March 14th, NASDAQ reports. Investors of record on Wednesday, April 3rd will be paid a dividend of 0.155 per share on Monday, April 15th. The ex-dividend date is Tuesday, April 2nd. This is a boost from Wheaton Precious Metals’s previous dividend of $0.15.
Wheaton Precious Metals has increased its dividend payment by an average of 12.6% per year over the last three years. Wheaton Precious Metals has a dividend payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Wheaton Precious Metals to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 48.4%.
Wheaton Precious Metals Stock Down 1.4 %
NYSE:WPM traded down $0.62 on Friday, reaching $44.40. The stock had a trading volume of 3,436,591 shares, compared to its average volume of 2,106,867. The company has a market capitalization of $20.12 billion, a P/E ratio of 37.18, a price-to-earnings-growth ratio of 9.67 and a beta of 0.76. The stock has a fifty day moving average price of $45.08 and a 200-day moving average price of $44.89. Wheaton Precious Metals has a 1-year low of $38.37 and a 1-year high of $52.76.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the stock. 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 report on Wednesday, February 7th. Berenberg Bank reduced their target price on shares of Wheaton Precious Metals from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Jefferies Financial Group started coverage on shares of Wheaton Precious Metals in a research report on Thursday, February 29th. They set a “buy” rating and a $49.00 price target for the company. Raymond James cut their price objective on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. Finally, TD Securities lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating and lowered their target price for the stock from $58.00 to $51.00 in a report on Wednesday, February 21st. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.50.
Check Out Our Latest Analysis on Wheaton Precious Metals
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of WPM. Atlas Capital Advisors LLC acquired a new position in Wheaton Precious Metals during the fourth quarter valued at approximately $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of Wheaton Precious Metals by 54.7% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock valued at $31,000 after buying an additional 280 shares in the last quarter. Intact Investment Management Inc. acquired a new position in Wheaton Precious Metals during the fourth quarter worth $55,000. Covestor Ltd bought a new stake in Wheaton Precious Metals during the first quarter worth $93,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at $82,000. 58.51% of the stock is owned by institutional investors and hedge funds.
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 10, 2017. Wheaton Precious Metals Corp.
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