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

Wheaton Precious Metals Corp. (NYSE:WPM) declared a quarterly dividend on Thursday, November 7th,NASDAQ Dividends reports. Stockholders of record on Thursday, November 21st will be paid a dividend of 0.155 per share on Friday, December 6th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, November 21st.

Wheaton Precious Metals has raised its dividend payment by an average of 12.6% annually over the last three years. Wheaton Precious Metals has a payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wheaton Precious Metals to earn $1.78 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 34.8%.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $62.60 on Wednesday. The business has a fifty day moving average price of $62.87 and a 200-day moving average price of $59.00. Wheaton Precious Metals has a 1-year low of $38.57 and a 1-year high of $68.64. The stock has a market capitalization of $28.40 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 2.14 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same quarter last year, the company earned $0.27 earnings per share. On average, equities research analysts anticipate that Wheaton Precious Metals will post 1.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WPM shares. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Raymond James boosted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Scotiabank raised their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, UBS Group started coverage on Wheaton Precious Metals in a research report on Monday. They set a “buy” rating and a $78.00 price target for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.67.

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.