Wheaton Precious Metals Corp. Declares Quarterly Dividend of $0.16 (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) declared a quarterly dividend on Thursday, November 7th,NASDAQ Dividends reports. Investors of record on Thursday, November 21st will be paid a dividend of 0.155 per share on Friday, December 6th. This represents a $0.62 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, November 21st.

Wheaton Precious Metals has raised its dividend by an average of 12.6% annually over the last three years. Wheaton Precious Metals has a dividend payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Wheaton Precious Metals to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 34.8%.

Wheaton Precious Metals Trading Up 0.7 %

WPM traded up $0.48 during trading on Friday, hitting $64.89. The company’s stock had a trading volume of 2,440,309 shares, compared to its average volume of 1,775,140. The firm has a market capitalization of $29.44 billion, a price-to-earnings ratio of 51.50, a P/E/G ratio of 2.29 and a beta of 0.77. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $68.64. The business’s fifty day simple moving average is $62.73 and its 200 day simple moving average is $58.48.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. As a group, equities research analysts forecast that Wheaton Precious Metals will post 1.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WPM shares. Raymond James upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Scotiabank increased their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, TD Securities raised their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.88.

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.