Wheaton Precious Metals Corp. (NYSE:WPM) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 382.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,398 shares of the company’s stock after buying an additional 23,306 shares during the quarter. NewEdge Advisors LLC’s holdings in Wheaton Precious Metals were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC purchased a new stake in Wheaton Precious Metals during the second quarter worth $31,000. St. Johns Investment Management Company LLC acquired a new stake in Wheaton Precious Metals in the first quarter valued at $52,000. Massmutual Trust Co. FSB ADV increased its position in shares of Wheaton Precious Metals by 25.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after buying an additional 253 shares in the last quarter. Finally, Western Pacific Wealth Management LP raised its stake in shares of Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after buying an additional 218 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Raymond James increased their price objective on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Scotiabank increased their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Berenberg Bank lifted their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Jefferies Financial Group increased their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday. Finally, Bank of America boosted their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.88.

Wheaton Precious Metals Stock Down 0.6 %

WPM stock opened at $60.31 on Friday. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 46.39, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The stock’s fifty day simple moving average is $60.13 and its 200-day simple moving average is $56.01. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $64.82.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same period last year, the company earned $0.31 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 1.42 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.03%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

Wheaton Precious Metals Company Profile

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.