NewEdge Advisors LLC Boosts Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

NewEdge Advisors LLC raised its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 382.6% during the second quarter, HoldingsChannel.com reports. The firm owned 29,398 shares of the company’s stock after buying an additional 23,306 shares during the quarter. NewEdge Advisors LLC’s holdings in Wheaton Precious Metals were worth $1,541,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of WPM. Marketfield Asset Management LLC raised its holdings in Wheaton Precious Metals by 61.0% in the fourth quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock valued at $4,343,000 after buying an additional 33,337 shares during the period. Financial Sense Advisors Inc. lifted its holdings in shares of Wheaton Precious Metals by 54.0% during the 1st quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock valued at $2,679,000 after acquiring an additional 19,924 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in Wheaton Precious Metals during the 1st quarter worth $1,752,000. FIL Ltd increased its holdings in Wheaton Precious Metals by 5.5% in the 4th quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock valued at $525,235,000 after purchasing an additional 550,804 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Wheaton Precious Metals by 8.5% in the first quarter. Russell Investments Group Ltd. now owns 878,049 shares of the company’s stock valued at $41,227,000 after purchasing an additional 68,755 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

WPM opened at $60.31 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $64.82. The stock has a market capitalization of $27.36 billion, a PE ratio of 46.39, a P/E/G ratio of 2.24 and a beta of 0.78. The firm’s fifty day moving average price is $60.13 and its 200 day moving average price is $56.01.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 EPS. On average, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.42 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.03%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WPM. Bank of America upped their target price on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Raymond James increased their price objective on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Scotiabank boosted 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 research report on Monday, August 19th. CIBC upped their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group lifted their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus target price of $69.88.

Wheaton Precious Metals 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.