Wheaton Precious Metals (TSE:WPM) Upgraded at UBS Group

UBS Group upgraded shares of Wheaton Precious Metals (TSE:WPM) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

WPM has been the topic of a number of other research reports. Peel Hunt raised their price objective on Wheaton Precious Metals from C$82.00 to C$95.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. National Bankshares raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$90.00 to C$105.00 in a research report on Thursday, October 10th. Canaccord Genuity Group upped their target price on Wheaton Precious Metals from C$90.00 to C$100.00 in a research report on Tuesday, July 23rd. Eight Capital raised their price target on Wheaton Precious Metals from C$95.00 to C$100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus increased their price objective on shares of Wheaton Precious Metals from C$90.00 to C$102.00 in a research report on Monday, October 21st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$97.67.

Wheaton Precious Metals Price Performance

WPM stock opened at C$88.06 on Monday. Wheaton Precious Metals has a 12 month low of C$52.15 and a 12 month high of C$94.84. The firm’s 50-day moving average is C$86.38 and its 200 day moving average is C$80.72. The company has a market capitalization of C$39.95 billion, a PE ratio of 50.90 and a beta of 0.70.

Wheaton Precious Metals Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, December 6th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 48.55%.

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.