Wheaton Precious Metals Corp. (NYSE:WPM) Declares Quarterly Dividend of $0.15

Posted by on May 9th, 2022

Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) announced a quarterly dividend on Monday, May 9th, Wall Street Journal reports. Investors of record on Friday, May 20th will be paid a dividend of 0.15 per share on Friday, June 3rd. This represents a $0.60 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, May 19th.

Wheaton Precious Metals has raised its dividend payment by an average of 16.6% annually over the last three years and has raised its dividend every year for the last 2 years. Wheaton Precious Metals has a dividend payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Wheaton Precious Metals to earn $1.50 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 40.0%.

WPM traded down $1.63 during trading hours on Monday, hitting $42.52. The stock had a trading volume of 3,529,828 shares, compared to its average volume of 2,556,444. The company’s fifty day simple moving average is $47.78 and its 200 day simple moving average is $43.71. Wheaton Precious Metals has a 1 year low of $36.39 and a 1 year high of $51.90. The stock has a market cap of $19.19 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 6.04 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $307.24 million during the quarter, compared to analyst estimates of $313.27 million. Wheaton Precious Metals had a return on equity of 9.71% and a net margin of 63.33%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. Analysts predict that Wheaton Precious Metals will post 1.45 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on WPM. Raymond James set a $61.00 price target on Wheaton Precious Metals and gave the company an “outperform” rating in a research report on Friday. KeyCorp boosted their target price on Wheaton Precious Metals from $46.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 19th. National Bank Financial boosted their target price on Wheaton Precious Metals from C$68.00 to C$75.00 in a research report on Wednesday, April 20th. StockNews.com began coverage on Wheaton Precious Metals in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, TD Securities dropped their target price on Wheaton Precious Metals from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Monday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $58.14.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH increased its stake in shares of Wheaton Precious Metals by 5.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,005,736 shares of the company’s stock valued at $43,214,000 after buying an additional 54,579 shares during the period. Bank of New York Mellon Corp grew its stake in Wheaton Precious Metals by 0.5% in the third quarter. Bank of New York Mellon Corp now owns 475,287 shares of the company’s stock worth $17,862,000 after purchasing an additional 2,415 shares during the period. Alliancebernstein L.P. grew its stake in Wheaton Precious Metals by 7.1% in the fourth quarter. Alliancebernstein L.P. now owns 131,417 shares of the company’s stock worth $5,642,000 after purchasing an additional 8,688 shares during the period. Stifel Financial Corp grew its stake in Wheaton Precious Metals by 122.2% in the fourth quarter. Stifel Financial Corp now owns 118,023 shares of the company’s stock worth $5,066,000 after purchasing an additional 64,903 shares during the period. Finally, LPL Financial LLC grew its stake in Wheaton Precious Metals by 2.0% in the fourth quarter. LPL Financial LLC now owns 81,989 shares of the company’s stock worth $3,520,000 after purchasing an additional 1,596 shares during the period. 67.90% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Company Profile (Get Rating)

Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.

See Also

Dividend History for Wheaton Precious Metals (NYSE:WPM)

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