Cwm LLC Raises Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Cwm LLC lifted its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 96.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,970 shares of the company’s stock after purchasing an additional 2,930 shares during the period. Cwm LLC’s holdings in Wheaton Precious Metals were worth $365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth $31,000. Abich Financial Wealth Management LLC purchased a new stake in Wheaton Precious Metals in the second quarter worth about $31,000. Sunbelt Securities Inc. bought a new position in Wheaton Precious Metals during the 2nd quarter worth about $47,000. St. Johns Investment Management Company LLC purchased a new position in Wheaton Precious Metals during the 1st quarter valued at about $52,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Wheaton Precious Metals by 25.9% in 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 in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 4.6 %

Shares of Wheaton Precious Metals stock opened at $66.49 on Monday. The company has a 50 day moving average price of $61.09 and a 200 day moving average price of $57.09. The firm has a market capitalization of $30.16 billion, a P/E ratio of 51.15, a PEG ratio of 2.18 and a beta of 0.78. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $66.75.

Wheaton Precious Metals (NYSE:WPM) last posted 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. The business had revenue of $299.06 million during the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $0.31 earnings per share. As a group, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.93%. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WPM. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group lifted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Scotiabank upped their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Raymond James raised their price objective on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Finally, TD Securities decreased their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Buy” and an average price target of $69.88.

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.