Beddow Capital Management Inc. Acquires 868 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Beddow Capital Management Inc. increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,391 shares of the company’s stock after acquiring an additional 868 shares during the quarter. Wheaton Precious Metals comprises about 2.2% of Beddow Capital Management Inc.’s investment portfolio, making the stock its 19th largest holding. Beddow Capital Management Inc.’s holdings in Wheaton Precious Metals were worth $5,000,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC bought a new position in Wheaton Precious Metals during the second quarter worth about $31,000. Principal Securities Inc. bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth approximately $39,000. St. Johns Investment Management Company LLC bought a new stake in Wheaton Precious Metals during the first quarter worth $52,000. Massmutual Trust Co. FSB ADV boosted 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. Finally, Western Pacific Wealth Management LP boosted 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 valued at $63,000 after purchasing an additional 218 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Up 0.7 %

Shares of NYSE:WPM opened at $62.62 on Friday. The firm has a market cap of $28.41 billion, a P/E ratio of 48.17, a P/E/G ratio of 2.29 and a beta of 0.78. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $64.27. The business has a fifty day simple moving average of $59.73 and a 200 day simple moving average of $54.69.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The business 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%. Wheaton Precious Metals’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. As a group, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.4 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WPM. Jefferies Financial Group raised their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 12th. CIBC raised their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. TD Securities reduced their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Bank of America raised their target price on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Scotiabank raised their target price 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.