Wheaton Precious Metals (TSE:WPM) Given New C$235.00 Price Target at Canaccord Genuity Group

Wheaton Precious Metals (TSE:WPM) had its target price upped by Canaccord Genuity Group from C$220.00 to C$235.00 in a research note published on Tuesday,BayStreet.CA reports.

A number of other research analysts have also weighed in on the company. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “moderate buy” rating and set a C$130.00 price objective for the company in a report on Wednesday, December 10th. Stifel Nicolaus boosted their price objective on Wheaton Precious Metals from C$205.00 to C$240.00 in a research note on Tuesday, February 10th. Finally, Peel Hunt upped their target price on Wheaton Precious Metals from C$165.00 to C$240.00 in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$168.29.

Wheaton Precious Metals Trading Down 2.4%

Shares of TSE WPM opened at C$193.98 on Tuesday. The company has a 50 day simple moving average of C$179.46 and a two-hundred day simple moving average of C$155.69. Wheaton Precious Metals has a 12 month low of C$95.96 and a 12 month high of C$214.41. The stock has a market cap of C$88.07 billion, a price-to-earnings ratio of 88.05 and a beta of 0.96.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, December 4th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 29.51%.

About Wheaton Precious Metals

Wheaton Precious Metals is one of the largest precious metals streaming companies in the world. The Company has entered into agreements to purchase all or a portion of the precious metals or cobalt production from high-quality mines for an upfront payment and an additional payment upon delivery of the metal. Wheaton currently has streaming agreements for 21 operating mines and 13 development stage projects. The Company’s production profile is driven by a portfolio of low-cost, long-life assets, including a gold stream on Vale’s Salobo mine, and a silver stream on Newmont’s Penasquito mine.