Brokerages Set Wheaton Precious Metals Corp. (TSE:WPM) Target Price at C$97.67

Wheaton Precious Metals Corp. (TSE:WPM) has been assigned an average recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$97.67.

A number of research analysts have weighed in on WPM shares. National Bank Financial upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. National Bankshares raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$90.00 to C$105.00 in a research note on Thursday, October 10th. Peel Hunt upped their price target on shares of Wheaton Precious Metals from C$82.00 to C$95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on shares of Wheaton Precious Metals from C$90.00 to C$102.00 in a research report on Monday, October 21st. Finally, Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st.

Wheaton Precious Metals Price Performance

Shares of TSE WPM opened at C$89.19 on Friday. The business has a 50-day moving average of C$86.66 and a 200-day moving average of C$80.95. The stock has a market capitalization of C$40.46 billion, a price-to-earnings ratio of 51.55 and a beta of 0.70. Wheaton Precious Metals has a fifty-two week low of C$52.15 and a fifty-two week high of C$94.84.

Wheaton Precious Metals Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, December 6th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is presently 48.55%.

About Wheaton Precious Metals

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.