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

Shares of Wheaton Precious Metals Corp. (TSE:WPM) have been given an average recommendation of “Buy” by the nine research firms that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$100.43.

A number of brokerages recently commented on WPM. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. National Bankshares lifted their price objective on Wheaton Precious Metals from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a report on Monday, March 17th. CIBC increased their target price on Wheaton Precious Metals from C$85.00 to C$88.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Peel Hunt lifted their price target on Wheaton Precious Metals from C$95.00 to C$110.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Finally, TD Securities boosted their price objective on Wheaton Precious Metals from C$78.00 to C$83.00 and gave the company a “buy” rating in a research report on Friday, March 14th.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at C$116.44 on Wednesday. Wheaton Precious Metals has a fifty-two week low of C$68.75 and a fifty-two week high of C$116.73. The firm has a market cap of C$36.93 billion, a price-to-earnings ratio of 60.59 and a beta of 0.70. The firm has a 50 day moving average price of C$103.54 and a 200-day moving average price of C$92.16.

Wheaton Precious Metals Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, April 11th were paid a dividend of $0.165 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.66 annualized dividend and a dividend yield of 0.57%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 43.71%.

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.