Wheaton Precious Metals Corp. (NYSE:WPM – Get Free Report) announced a quarterly dividend on Thursday, March 14th, NASDAQ reports. Stockholders of record on Wednesday, April 3rd will be paid a dividend of 0.155 per share on Monday, April 15th. This represents a $0.62 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Tuesday, April 2nd. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15.
Wheaton Precious Metals has raised its dividend by an average of 12.6% annually over the last three years. Wheaton Precious Metals has a dividend payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Wheaton Precious Metals to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 44.8%.
Wheaton Precious Metals Price Performance
Shares of Wheaton Precious Metals stock opened at $47.13 on Monday. The firm has a fifty day moving average price of $44.58 and a two-hundred day moving average price of $45.10. Wheaton Precious Metals has a fifty-two week low of $38.37 and a fifty-two week high of $52.76. The company has a market cap of $21.35 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 12.24 and a beta of 0.77.
Hedge Funds Weigh In On Wheaton Precious Metals
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Wheaton Precious Metals in the fourth quarter valued at about $243,010,000. BlackRock Inc. lifted its position in shares of Wheaton Precious Metals by 245.5% during the first quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after purchasing an additional 1,798,086 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Wheaton Precious Metals by 41.7% during the first quarter. Renaissance Technologies LLC now owns 2,787,718 shares of the company’s stock valued at $132,641,000 after purchasing an additional 821,061 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Wheaton Precious Metals by 665.2% during the first quarter. Neuberger Berman Group LLC now owns 888,189 shares of the company’s stock valued at $42,304,000 after purchasing an additional 772,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Wheaton Precious Metals by 99.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,498,894 shares of the company’s stock valued at $54,006,000 after purchasing an additional 749,011 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.
Analyst Upgrades and Downgrades
WPM has been the subject of several recent research reports. Raymond James cut their price target on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Thursday, February 22nd. TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and boosted their price target for the company from $51.00 to $53.00 in a report on Monday, March 18th. Berenberg Bank raised their price objective on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Jefferies Financial Group began coverage on shares of Wheaton Precious Metals in a research report on Thursday, February 29th. They set a “buy” rating and a $49.00 target price on the stock. Finally, CIBC increased their price target on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average price target of $60.81.
Check Out Our Latest Stock Report on Wheaton Precious Metals
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 10, 2017. Wheaton Precious Metals Corp.
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