Canaccord Genuity Group Raises Wheaton Precious Metals (TSE:WPM) Price Target to C$100.00

Wheaton Precious Metals (TSE:WPM) had its price target boosted by Canaccord Genuity Group from C$90.00 to C$100.00 in a research note released on Tuesday, BayStreet.CA reports.

Several other research firms have also weighed in on WPM. Eight Capital increased their price target on shares of Wheaton Precious Metals from C$85.00 to C$95.00 in a research report on Thursday, July 11th. 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 research note on Friday, April 19th. Peel Hunt upped their price objective on Wheaton Precious Metals from C$74.00 to C$82.00 in a research note on Tuesday, April 30th. National Bankshares raised their target price on Wheaton Precious Metals from C$80.00 to C$85.00 and gave the stock a sector perform rating in a research report on Monday, May 13th. Finally, Veritas Investment Research upped their price target on Wheaton Precious Metals from C$67.00 to C$84.00 in a research report on Friday, April 12th.

Wheaton Precious Metals Stock Performance

TSE:WPM opened at C$80.66 on Tuesday. Wheaton Precious Metals has a 52 week low of C$52.15 and a 52 week high of C$86.22. The company has a 50-day moving average price of C$76.39. The stock has a market cap of C$36.56 billion, a price-to-earnings ratio of 45.57 and a beta of 0.63.

Wheaton Precious Metals (TSE:WPM) last issued its quarterly earnings results on Thursday, May 9th. The company reported C$0.49 EPS for the quarter, topping analysts’ consensus estimates of C$0.40 by C$0.09. The business had revenue of C$400.14 million for the quarter, compared to analyst estimates of C$391.32 million. Wheaton Precious Metals had a return on equity of 8.50% and a net margin of 53.74%. Analysts expect that Wheaton Precious Metals will post 1.8465017 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 11th were given a dividend of $0.214 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.86 annualized dividend and a dividend yield of 1.06%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.21. Wheaton Precious Metals’s dividend payout ratio is currently 48.02%.

Insider Transactions at Wheaton Precious Metals

In related news, Senior Officer Randy Smallwood sold 94,090 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$73.70, for a total transaction of C$6,934,433.00. In other news, Senior Officer Haytham Henry Hodaly sold 16,500 shares of Wheaton Precious Metals stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of C$76.64, for a total transaction of C$1,264,560.00. Also, Senior Officer Randy Smallwood sold 94,090 shares of Wheaton Precious Metals stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$73.70, for a total transaction of C$6,934,433.00. Insiders sold 151,660 shares of company stock valued at $11,281,465 over the last three months. Company insiders own 0.13% 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.