Creative Planning Buys 2,318 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Creative Planning increased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,000 shares of the company’s stock after buying an additional 2,318 shares during the quarter. Creative Planning’s holdings in Wheaton Precious Metals were worth $2,688,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. First Eagle Investment Management LLC boosted its holdings in shares of Wheaton Precious Metals by 1.4% during the 1st quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock valued at $1,008,743,000 after purchasing an additional 292,968 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Wheaton Precious Metals by 1.0% during the 2nd quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock worth $1,047,621,000 after buying an additional 197,426 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Wheaton Precious Metals by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock valued at $790,392,000 after purchasing an additional 272,918 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Wheaton Precious Metals by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock valued at $344,483,000 after acquiring an additional 1,010,307 shares during the period. Finally, TD Asset Management Inc boosted its holdings in shares of Wheaton Precious Metals by 22.5% in the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock valued at $311,920,000 after buying an additional 1,092,480 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WPM has been the topic of several research analyst reports. CIBC boosted their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 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 research note on Friday, October 4th. TD Securities dropped 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 research report on Thursday, August 15th. Scotiabank upped their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $70.25.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $66.13 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The stock has a market capitalization of $29.99 billion, a P/E ratio of 50.87, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. The company has a 50 day moving average price of $62.01 and a 200 day moving average price of $57.67.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $299.06 million for 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 quarter in the prior year, the company posted $0.31 earnings per share. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 1.45 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is currently 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.