Global Assets Advisory LLC Makes New $6.19 Million Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Global Assets Advisory LLC acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPMFree Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 131,423 shares of the company’s stock, valued at approximately $6,194,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WPM. Fielder Capital Group LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter valued at about $1,046,000. King Luther Capital Management Corp bought a new stake in Wheaton Precious Metals during the 4th quarter valued at $6,154,000. Marketfield Asset Management LLC boosted its position in Wheaton Precious Metals by 61.0% during the 4th quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock valued at $4,343,000 after buying an additional 33,337 shares during the period. Alberta Investment Management Corp grew its holdings in Wheaton Precious Metals by 0.8% in the 4th quarter. Alberta Investment Management Corp now owns 957,947 shares of the company’s stock worth $47,491,000 after acquiring an additional 7,610 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Wheaton Precious Metals by 5.5% in the fourth quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock valued at $525,235,000 after acquiring an additional 550,804 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

NYSE WPM traded up $0.30 during mid-day trading on Monday, reaching $53.31. The stock had a trading volume of 676,656 shares, compared to its average volume of 1,967,050. The company has a fifty day moving average price of $54.14 and a 200 day moving average price of $49.22. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $57.87. The stock has a market cap of $24.18 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPMGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The firm had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $278.95 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. The company’s revenue was up 38.7% on a year-over-year basis. As a group, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.28 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.16%. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WPM. TD Securities raised Wheaton Precious Metals from a “hold” rating to a “buy” rating and raised their target price for the stock from $51.00 to $53.00 in a research note on Monday, March 18th. BMO Capital Markets boosted their target price on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Jefferies Financial Group boosted their target price on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Scotiabank raised their target price on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, CIBC boosted their price target on Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.33.

Check Out Our Latest Stock Analysis on Wheaton Precious Metals

Wheaton Precious Metals Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

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