Wheaton Precious Metals (NYSE:WPM) Reaches New 52-Week High – Here’s Why
by Teresa Graham · The Cerbat GemWheaton Precious Metals Corp. (NYSE:WPM – Get Free Report)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $115.79 and last traded at $116.6310, with a volume of 430477 shares changing hands. The stock had previously closed at $112.83.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Royal Bank Of Canada upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $115.00 to $130.00 in a report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday. Raymond James Financial raised their price objective on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. UBS Group lifted their price objective on shares of Wheaton Precious Metals from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Monday, December 1st. Finally, Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $130.78.
Get Our Latest Stock Report on Wheaton Precious Metals
Wheaton Precious Metals Stock Performance
The stock has a market cap of $53.77 billion, a P/E ratio of 53.89, a P/E/G ratio of 1.62 and a beta of 0.54. The business has a 50 day simple moving average of $103.75 and a 200-day simple moving average of $98.40.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $476.26 million during the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The firm’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.
Wheaton Precious Metals Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio is 30.00%.
Institutional Investors Weigh In On Wheaton Precious Metals
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacifica Partners Inc. increased its stake in shares of Wheaton Precious Metals by 27.8% in the third quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in Wheaton Precious Metals by 0.9% in the 3rd quarter. Miracle Mile Advisors LLC now owns 12,872 shares of the company’s stock worth $1,440,000 after buying an additional 110 shares during the period. AE Wealth Management LLC grew its stake in Wheaton Precious Metals by 2.1% in the 3rd quarter. AE Wealth Management LLC now owns 6,091 shares of the company’s stock valued at $681,000 after buying an additional 123 shares in the last quarter. First Affirmative Financial Network raised its holdings in Wheaton Precious Metals by 3.5% during the 3rd quarter. First Affirmative Financial Network now owns 3,976 shares of the company’s stock valued at $445,000 after acquiring an additional 133 shares during the period. Finally, Uncommon Cents Investing LLC raised its holdings in Wheaton Precious Metals by 1.5% during the 3rd quarter. Uncommon Cents Investing LLC now owns 8,940 shares of the company’s stock valued at $1,000,000 after acquiring an additional 135 shares during the period. 70.34% of the stock is currently owned by institutional investors.
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.
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