Wheaton Precious Metals (NYSE:WPM) Reaches New 1-Year High – What’s Next?

Shares of Wheaton Precious Metals Corp. (NYSE:WPM) reached a new 52-week high on Wednesday . The stock traded as high as $77.44 and last traded at $75.53, with a volume of 2006908 shares traded. The stock had previously closed at $76.02.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WPM. Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Monday. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $72.44.

Wheaton Precious Metals Trading Down 0.6 %

The stock has a market capitalization of $34.27 billion, a PE ratio of 56.37, a PEG ratio of 1.91 and a beta of 0.76. The company’s 50 day simple moving average is $65.49 and its 200 day simple moving average is $62.89.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $380.52 million during the quarter, compared to analysts’ expectations of $395.74 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. Wheaton Precious Metals’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. As a group, analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.87%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 1st. Wheaton Precious Metals’s payout ratio is presently 49.25%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc purchased a new position in shares of Wheaton Precious Metals in the 4th quarter worth about $29,000. Promus Capital LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter worth approximately $32,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $38,000. Laurel Wealth Advisors LLC acquired a new position in Wheaton Precious Metals during the fourth quarter valued at approximately $39,000. Finally, Quintet Private Bank Europe S.A. purchased a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $39,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

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.