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

Wheaton Precious Metals Corp. (NYSE:WPM) declared a quarterly dividend on Wednesday, August 7th, NASDAQ reports. Shareholders of record on Wednesday, August 21st will be given a dividend of 0.155 per share on Wednesday, September 4th. This represents a $0.62 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Wednesday, August 21st.

Wheaton Precious Metals has increased its dividend by an average of 12.6% per year over the last three years. Wheaton Precious Metals has a payout ratio of 36.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wheaton Precious Metals to earn $1.59 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 39.0%.

Wheaton Precious Metals Stock Up 2.5 %

Shares of NYSE WPM opened at $60.52 on Tuesday. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $63.06. The stock’s 50 day moving average price is $56.29 and its 200-day moving average price is $51.76. The company has a market capitalization of $27.45 billion, a PE ratio of 46.55, a PEG ratio of 2.14 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. During the same quarter in the previous year, the business earned $0.31 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. As a group, research analysts expect that Wheaton Precious Metals will post 1.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WPM shares. Berenberg Bank boosted their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Scotiabank boosted their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday. Jefferies Financial Group boosted their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Bank of America lifted their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, BMO Capital Markets lifted their price target on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

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.