Sequoia Financial Advisors LLC Acquires 1,171 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Sequoia Financial Advisors LLC increased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 26.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,633 shares of the company’s stock after buying an additional 1,171 shares during the period. Sequoia Financial Advisors LLC’s holdings in Wheaton Precious Metals were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WPM. Ridgewood Investments LLC bought a new stake in Wheaton Precious Metals during the second quarter worth about $31,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. Sunbelt Securities Inc. bought a new position in shares of Wheaton Precious Metals in the 2nd quarter worth $47,000. Western Pacific Wealth Management LP lifted its holdings in shares of Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after purchasing an additional 218 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted 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 worth $65,000 after purchasing an additional 253 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WPM shares. Raymond James increased their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday. CIBC raised their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. TD Securities reduced their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Jefferies Financial Group increased their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.25.

Wheaton Precious Metals Stock Performance

WPM stock opened at $66.45 on Tuesday. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64. The company’s fifty day moving average price is $62.13 and its 200-day moving average price is $57.81. The company has a market capitalization of $30.14 billion, a PE ratio of 51.12, a price-to-earnings-growth ratio of 2.41 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, research analysts predict that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal 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 0.93%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is 47.69%.

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.