Wheaton Precious Metals (TSE:WPM) Price Target Raised to C$85.00 at Eight Capital

Wheaton Precious Metals (TSE:WPM) had its price target boosted by Eight Capital from C$82.50 to C$85.00 in a research report released on Monday, BayStreet.CA reports. Eight Capital currently has a buy rating on the stock.

Several other analysts also recently weighed in on WPM. National Bankshares downgraded shares of Wheaton Precious Metals from an outperform rating to a sector perform rating and lowered their price target for the stock from C$75.00 to C$68.00 in a research note on Friday, February 23rd. National Bank Financial cut Wheaton Precious Metals from an outperform market weight rating to a sector perform overweight rating in a research note on Wednesday, February 21st. Veritas Investment Research raised their target price on shares of Wheaton Precious Metals from C$67.00 to C$84.00 in a report on Friday, April 12th. Finally, Stifel Nicolaus raised their price target on shares of Wheaton Precious Metals from C$72.00 to C$80.00 and gave the stock a buy rating in a report on Friday.

Wheaton Precious Metals Stock Performance

Shares of TSE:WPM opened at C$70.59 on Monday. The company has a market cap of C$31.98 billion, a P/E ratio of 44.12 and a beta of 0.66. Wheaton Precious Metals has a one year low of C$52.15 and a one year high of C$74.72. The firm has a fifty day moving average price of C$63.09.

Wheaton Precious Metals (TSE:WPM) last posted its quarterly earnings data on Thursday, March 14th. The company reported C$0.49 earnings per share for the quarter, beating the consensus estimate of C$0.42 by C$0.07. The firm had revenue of C$426.80 million for the quarter, compared to analysts’ expectations of C$381.95 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.85%. As a group, sell-side analysts forecast that Wheaton Precious Metals will post 1.5534463 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently announced 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 positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 1.19%. Wheaton Precious Metals’s payout ratio is 52.50%.

Insider Transactions at Wheaton Precious Metals

In related news, Senior Officer Gary Duncan Brown sold 1,857 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total transaction of C$109,491.69. In other news, Senior Officer Gary Duncan Brown sold 1,857 shares of the business’s stock in a transaction 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 the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$62.02, for a total value of C$1,156,052.80. Insiders sold 20,664 shares of company stock worth $1,272,782 over the last three months. 0.17% of the stock is currently owned by company insiders.

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.