Wheaton Precious Metals Corp. (TSE:WPM) Receives C$97.67 Average Target Price from Brokerages

Wheaton Precious Metals Corp. (TSE:WPM) has been given an average recommendation of “Buy” by the six ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$97.67.

Several brokerages have recently weighed in on WPM. Eight Capital increased their price objective on shares of Wheaton Precious Metals from C$95.00 to C$100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. National Bankshares upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$90.00 to C$105.00 in a research note on Thursday, October 10th. Stifel Nicolaus raised their target price on shares of Wheaton Precious Metals from C$90.00 to C$102.00 in a report on Monday, October 21st. 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 note on Wednesday, October 2nd. Finally, Canaccord Genuity Group raised their target price on shares of Wheaton Precious Metals from C$90.00 to C$100.00 in a research report on Tuesday, July 23rd.

Wheaton Precious Metals Trading Up 2.4 %

Shares of WPM opened at C$87.40 on Friday. The stock’s 50-day moving average price is C$86.23 and its two-hundred day moving average price is C$80.61. The stock has a market cap of C$39.65 billion, a P/E ratio of 50.52 and a beta of 0.70. Wheaton Precious Metals has a 1 year low of C$52.15 and a 1 year high of C$94.84.

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 given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is 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.