TD Securities analyst Greg Barnes upgraded Wheaton Precious Metals (WPM) to Buy from Hold with a price target of $53, up from $51, after the company reported Q4 results and announced that it has moved to a progressive dividend policy, transitioning from distributing 30% of the average previous-four-quarters operating cash flows to shareholders. Wheaton has the better production growth profile over the next several years relative to its closest peer, Franco-Nevada (FNV), and the firm likes the move to a progressive dividend policy, the analyst tells investors.
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Read More on WPM:
- Wheaton Precious Metals Ups Quarterly Dividend
- Wheaton Precious Metals Reports Strong 2023 Financials
- Wheaton Precious Metals sees 2029-2033 average production over 850K gold eq. oz.
- Wheaton Precious Metals sees 2024 production 550K-620K gold eq. oz.
- Wheaton Precious Metals reports Q4 EPS adjusted 36c, consensus 33c