Confluence Investment Management LLC Invests $532,000 in Wheaton Precious Metals Corp. (NYSE:WPM)

Confluence Investment Management LLC purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,282 shares of the company’s stock, valued at approximately $532,000.

Several other institutional investors also recently modified their holdings of WPM. CVA Family Office LLC bought a new position in Wheaton Precious Metals during the 4th quarter worth approximately $26,000. McGlone Suttner Wealth Management Inc. bought a new position in Wheaton Precious Metals during the 4th quarter worth approximately $31,000. Principal Securities Inc. bought a new position in Wheaton Precious Metals during the 4th quarter worth approximately $39,000. Fifth Third Bancorp boosted its stake in Wheaton Precious Metals by 230.7% during the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after acquiring an additional 602 shares during the last quarter. Finally, Western Pacific Wealth Management LP boosted its stake in Wheaton Precious Metals by 47.6% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock worth $55,000 after acquiring an additional 359 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on WPM. Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. National Bank Financial lowered shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Jefferies Financial Group lifted their price target on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Raymond James cut their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Thursday, February 22nd. Finally, CIBC lifted their price target on shares of 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 six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.33.

Wheaton Precious Metals Stock Up 0.5 %

Shares of WPM stock traded up $0.28 during trading on Tuesday, reaching $52.97. The company’s stock had a trading volume of 464,571 shares, compared to its average volume of 1,958,548. The business has a fifty day moving average price of $54.03 and a 200-day moving average price of $49.09. The company has a market cap of $24.01 billion, a price-to-earnings ratio of 40.53, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78. Wheaton Precious Metals Corp. has a one year low of $38.37 and a one year high of $57.87.

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

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

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.