Wheaton Precious Metals (TSE:WPM) Sets New 52-Week High – Still a Buy?

Wheaton Precious Metals Corp. (TSE:WPM) shares hit a new 52-week high during trading on Thursday . The company traded as high as C$112.90 and last traded at C$110.15, with a volume of 481975 shares trading hands. The stock had previously closed at C$111.22.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WPM shares. TD Securities lifted their price objective on Wheaton Precious Metals from C$78.00 to C$83.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Peel Hunt upped their price target on shares of Wheaton Precious Metals from C$95.00 to C$110.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. CIBC upped their target price on shares of Wheaton Precious Metals from C$85.00 to C$88.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Finally, National Bankshares lifted their price target on Wheaton Precious Metals from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th. Six research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Buy” and an average target price of C$98.38.

Wheaton Precious Metals Stock Down 8.8 %

The company has a market capitalization of C$32.01 billion, a price-to-earnings ratio of 52.52 and a beta of 0.70. The stock has a 50 day simple moving average of C$100.53 and a 200 day simple moving average of C$90.79.

Wheaton Precious Metals Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, April 11th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a yield of 0.65%. Wheaton Precious Metals’s dividend payout ratio is currently 43.71%.

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.