Miracle Mile Advisors LLC Invests $773,000 in Wheaton Precious Metals Corp. (NYSE:WPM)

Miracle Mile Advisors LLC acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,740 shares of the company’s stock, valued at approximately $773,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its stake in shares of Wheaton Precious Metals by 33.7% in the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after purchasing an additional 3,692,594 shares during the period. Canoe Financial LP bought a new stake in Wheaton Precious Metals in the third quarter valued at about $113,017,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Wheaton Precious Metals by 1,865.2% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,245,534 shares of the company’s stock valued at $76,061,000 after buying an additional 1,182,156 shares during the period. King Luther Capital Management Corp boosted its holdings in Wheaton Precious Metals by 196.1% during the second quarter. King Luther Capital Management Corp now owns 1,013,847 shares of the company’s stock worth $53,146,000 after buying an additional 671,432 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Wheaton Precious Metals by 90.5% during the 2nd quarter. Clearbridge Investments LLC now owns 1,344,131 shares of the company’s stock worth $70,461,000 after buying an additional 638,425 shares during the period. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Up 2.1 %

NYSE:WPM opened at $58.12 on Thursday. Wheaton Precious Metals Corp. has a twelve month low of $38.57 and a twelve month high of $68.64. The company has a market cap of $26.37 billion, a P/E ratio of 43.37, a price-to-earnings-growth ratio of 1.67 and a beta of 0.76. The business has a 50 day moving average price of $59.89 and a two-hundred day moving average price of $60.40.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were issued a dividend of $0.155 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.07%. Wheaton Precious Metals’s payout ratio is presently 46.27%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. UBS Group initiated coverage on Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 price target for the company. Raymond James lifted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, TD Securities raised their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

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.