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

Wheaton Precious Metals (TSE:WPM) had its target price increased by Canaccord Genuity Group from C$80.00 to C$90.00 in a research report released on Tuesday morning, BayStreet.CA reports.

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

Wheaton Precious Metals Stock Up 1.5 %

Shares of WPM opened at C$71.66 on Tuesday. The firm has a 50-day simple moving average of C$63.27. The firm has a market cap of C$32.47 billion, a P/E ratio of 44.79 and a beta of 0.66. 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 released 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 analyst estimates of C$381.95 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.85%. On average, equities analysts predict that Wheaton Precious Metals will post 1.5534463 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were given a dividend of $0.21 per share. 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 1.17%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio is presently 52.50%.

Insider Buying and Selling at Wheaton Precious Metals

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 value of C$109,491.69. In related news, Senior Officer Gary Duncan Brown sold 1,857 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was 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 stock in a transaction that occurred on 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 have sold a total of 20,664 shares of company stock worth $1,272,782 over the last 90 days. Insiders own 0.17% of the company’s stock.

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.