Brookstone Capital Management Raises Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Brookstone Capital Management increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,771 shares of the company’s stock after buying an additional 240 shares during the quarter. Brookstone Capital Management’s holdings in Wheaton Precious Metals were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. First Eagle Investment Management LLC lifted its position in Wheaton Precious Metals by 0.5% during the fourth quarter. First Eagle Investment Management LLC now owns 21,110,441 shares of the company’s stock worth $1,041,589,000 after buying an additional 112,178 shares during the period. Van ECK Associates Corp lifted its position in Wheaton Precious Metals by 9.9% during the fourth quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock worth $1,012,517,000 after buying an additional 1,856,031 shares during the period. Vanguard Group Inc. lifted its position in Wheaton Precious Metals by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 16,497,557 shares of the company’s stock worth $813,989,000 after buying an additional 294,488 shares during the period. FIL Ltd raised its holdings in shares of Wheaton Precious Metals by 5.5% in the 4th quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock worth $525,235,000 after purchasing an additional 550,804 shares during the period. Finally, Norges Bank purchased a new position in shares of Wheaton Precious Metals in the 4th quarter worth about $387,481,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WPM shares. Bank of America raised their price objective on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Jefferies Financial Group raised their price objective on Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Scotiabank raised their price objective on Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. TD Securities upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating and raised their price objective for the stock from $51.00 to $53.00 in a report on Monday, March 18th. Finally, CIBC increased their target price on Wheaton Precious Metals from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Wheaton Precious Metals Trading Up 1.1 %

Shares of WPM opened at $52.62 on Wednesday. The firm has a market cap of $23.86 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 1.83 and a beta of 0.76. Wheaton Precious Metals Corp. has a 52 week low of $38.37 and a 52 week high of $57.87. The stock has a 50 day moving average of $54.24 and a 200-day moving average of $49.46.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $296.80 million for the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The business’s revenue was up 38.7% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.29 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Wednesday, May 29th. Wheaton Precious Metals’s payout ratio is currently 47.69%.

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.