Wheaton Precious Metals (TSE:WPM) Sets New 12-Month High – Time to Buy?

Wheaton Precious Metals Corp. (TSE:WPM) shares hit a new 52-week high during trading on Friday . The stock traded as high as C$114.62 and last traded at C$114.50, with a volume of 538841 shares traded. The stock had previously closed at C$108.92.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WPM. TD Securities raised their price objective on Wheaton Precious Metals from C$78.00 to C$83.00 and gave the company a “buy” rating in a report on Friday, March 14th. 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. CIBC increased their price objective on shares of 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 upped their price target on Wheaton Precious Metals from C$95.00 to C$110.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Finally, National Bankshares increased their price target on Wheaton Precious Metals from C$115.00 to C$120.00 and gave the company an “outperform” rating in a report on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$98.38.

Wheaton Precious Metals Stock Up 4.9 %

The stock has a 50-day simple moving average of C$102.28 and a 200 day simple moving average of C$91.59. The company has a market cap of C$36.23 billion, a PE ratio of 59.45 and a beta of 0.70.

Wheaton Precious Metals Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, April 11th will be given a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a yield of 0.58%. Wheaton Precious Metals’s payout ratio is currently 43.71%.

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.