Wheaton Precious Metals (TSE:WPM) Given New C$85.00 Price Target at Eight Capital

Wheaton Precious Metals (TSE:WPM) had its price objective raised by Eight Capital from C$82.50 to C$85.00 in a research report released on Monday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Veritas Investment Research upped their price objective on Wheaton Precious Metals from C$67.00 to C$84.00 in a research note on Friday, April 12th. National Bankshares cut Wheaton Precious Metals from an outperform rating to a sector perform rating and decreased their price objective for the stock from C$75.00 to C$68.00 in a research note on Friday, February 23rd. National Bank Financial cut Wheaton Precious Metals from an outperform market weight rating to a sector perform overweight rating in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus increased their price target on Wheaton Precious Metals from C$72.00 to C$80.00 and gave the company a buy rating in a research note on Friday, April 19th.

Wheaton Precious Metals Stock Up 0.5 %

TSE:WPM opened at C$71.99 on Monday. The firm’s fifty day moving average is C$63.46. Wheaton Precious Metals has a fifty-two week low of C$52.15 and a fifty-two week high of C$74.72. The stock has a market cap of C$32.62 billion, a price-to-earnings ratio of 44.99 and a beta of 0.66.

Wheaton Precious Metals (TSE:WPM) last released its quarterly earnings results on Thursday, March 14th. The company reported C$0.49 earnings per share for the quarter, beating the consensus estimate of C$0.42 by C$0.07. Wheaton Precious Metals had a return on equity of 7.85% and a net margin of 52.92%. The company had revenue of C$426.80 million for the quarter, compared to analyst estimates of C$381.95 million. As a group, analysts anticipate that Wheaton Precious Metals will post 1.5534463 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.17%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 52.50%.

Insider Transactions at Wheaton Precious Metals

In other news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total value of C$1,156,052.80. In related news, Senior Officer Gary Duncan Brown sold 1,857 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total transaction of C$109,491.69. Also, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total value of C$1,156,052.80. Insiders sold a total of 20,664 shares of company stock worth $1,272,782 over the last three months. 0.17% of the stock is currently owned by insiders.

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.