Wheaton Precious Metals Corp. (WPM) to Issue Quarterly Dividend of $0.20 on April 10th

Wheaton Precious Metals Corp. (NYSE:WPM) declared a quarterly dividend on Thursday, March 12th. Shareholders of record on Tuesday, March 31st will be paid a dividend of 0.195 per share on Friday, April 10th. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, March 31st. This is a 18.2% increase from Wheaton Precious Metals’s previous quarterly dividend of $0.17.

Wheaton Precious Metals has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Wheaton Precious Metals has a dividend payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Wheaton Precious Metals to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 42.6%.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $124.48 on Friday. Wheaton Precious Metals has a 1 year low of $68.03 and a 1 year high of $165.76. The stock’s fifty day moving average price is $142.22 and its two-hundred day moving average price is $121.10. The firm has a market cap of $56.52 billion, a PE ratio of 38.42, a PEG ratio of 1.79 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, March 12th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.31. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The company had revenue of $864.71 million during the quarter, compared to the consensus estimate of $719.59 million. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s quarterly revenue was up 127.3% compared to the same quarter last year. Sell-side analysts anticipate that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Zacks Research lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Scotiabank boosted their target price on shares of Wheaton Precious Metals from $175.00 to $178.00 and gave the company a “sector outperform” rating in a report on Monday, March 16th. TD Cowen raised their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a research report on Sunday, December 7th. Finally, Wall Street Zen cut Wheaton Precious Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.36.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.