Choreo LLC Invests $513,000 in Wheaton Precious Metals Corp. (NYSE:WPM)

Choreo LLC acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,857 shares of the company’s stock, valued at approximately $513,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in Wheaton Precious Metals during the 2nd quarter valued at $31,000. Principal Securities Inc. purchased a new stake in Wheaton Precious Metals during the fourth quarter valued at $39,000. St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals in the first quarter valued at about $52,000. Western Pacific Wealth Management LP boosted its position in Wheaton Precious Metals by 47.6% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock worth $55,000 after purchasing an additional 359 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Wheaton Precious Metals by 25.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after purchasing an additional 253 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

WPM opened at $62.56 on Monday. The stock has a market capitalization of $28.38 billion, a price-to-earnings ratio of 48.12, a PEG ratio of 2.26 and a beta of 0.78. The company has a fifty day moving average of $59.31 and a 200 day moving average of $54.17. Wheaton Precious Metals Corp. has a fifty-two week low of $38.37 and a fifty-two week high of $63.13.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $299.06 million during the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 earnings per share. On average, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.4 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is 47.69%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Berenberg Bank raised their price objective on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. TD Securities dropped their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Jefferies Financial Group raised their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Scotiabank boosted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, CIBC raised their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.50.

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.