Wheaton Precious Metals (TSE:WPM) Price Target Raised to C$90.00 at Canaccord Genuity Group

Wheaton Precious Metals (TSE:WPM) had its price objective boosted by Canaccord Genuity Group from C$80.00 to C$90.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports.

A number of other analysts have also recently issued reports on WPM. National Bankshares cut Wheaton Precious Metals from an outperform rating to a sector perform rating and decreased their target price for the stock from C$75.00 to C$68.00 in a report on Friday, February 23rd. Veritas Investment Research raised their target price on shares of Wheaton Precious Metals from C$67.00 to C$84.00 in a research note on Friday, April 12th. Stifel Nicolaus lifted their target price on shares of Wheaton Precious Metals from C$72.00 to C$80.00 and gave the company a buy rating in a report on Friday, April 19th. National Bank Financial downgraded Wheaton Precious Metals from an outperform market weight rating to a sector perform overweight rating in a report on Wednesday, February 21st. Finally, Eight Capital boosted their price objective on Wheaton Precious Metals from C$82.50 to C$85.00 and gave the stock a buy rating in a research note on Monday.

Wheaton Precious Metals Stock Performance

TSE:WPM opened at C$71.66 on Tuesday. The stock has a market capitalization of C$32.47 billion, a P/E ratio of 44.79 and a beta of 0.66. The stock’s 50 day moving average is C$63.27. Wheaton Precious Metals has a fifty-two week low of C$52.15 and a fifty-two week high of C$74.72.

Wheaton Precious Metals (TSE:WPM) last issued its earnings results on Thursday, March 14th. The company reported C$0.49 earnings per share for the quarter, topping the consensus estimate of C$0.42 by C$0.07. Wheaton Precious Metals had a return on equity of 7.85% and a net margin of 52.92%. The business had revenue of C$426.80 million for the quarter, compared to analyst estimates of C$381.95 million. As a group, research analysts anticipate that Wheaton Precious Metals will post 1.5534463 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were given a $0.21 dividend. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.84 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio is presently 52.50%.

Insider Activity

In related news, Senior Officer Gary Duncan Brown sold 1,857 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total value of C$109,491.69. In other news, Senior Officer Gary Duncan Brown sold 1,857 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of C$58.96, for a total transaction of C$109,491.69. Also, Senior Officer Patrick Eugene Drouin sold 18,640 shares of Wheaton Precious Metals stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total transaction of C$1,156,052.80. Insiders sold 20,664 shares of company stock worth $1,272,782 over the last ninety days. Corporate insiders own 0.17% of the company’s stock.

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.