Wheaton Precious Metals Corp. (NYSE:WPM) Stock Position Raised by AdvisorNet Financial Inc

AdvisorNet Financial Inc boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,330 shares of the company’s stock after buying an additional 190 shares during the period. AdvisorNet Financial Inc’s holdings in Wheaton Precious Metals were worth $175,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WPM. Fielder Capital Group LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at $1,046,000. King Luther Capital Management Corp purchased a new position in Wheaton Precious Metals during the 4th quarter valued at about $6,154,000. Marketfield Asset Management LLC lifted its position in Wheaton Precious Metals by 61.0% in the 4th quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock worth $4,343,000 after buying an additional 33,337 shares in the last quarter. Financial Sense Advisors Inc. boosted its position in Wheaton Precious Metals by 54.0% during the first quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock valued at $2,679,000 after purchasing an additional 19,924 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Wheaton Precious Metals in the 1st quarter valued at approximately $1,752,000. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPM has been the topic of several recent analyst reports. Berenberg Bank lifted their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Scotiabank raised their price target on Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a report on Thursday, May 23rd. 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 note on Wednesday, July 10th. Bank of America upped their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, BMO Capital Markets increased their target price on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus price target of $66.89.

Wheaton Precious Metals Stock Up 0.3 %

WPM stock traded up $0.20 during midday trading on Thursday, reaching $57.83. 811,317 shares of the company’s stock traded hands, compared to its average volume of 1,848,473. Wheaton Precious Metals Corp. has a 52 week low of $38.37 and a 52 week high of $63.06. The company has a market cap of $26.23 billion, a price-to-earnings ratio of 44.50, a P/E/G ratio of 2.08 and a beta of 0.76. The firm’s fifty day moving average price is $56.12 and its 200-day moving average price is $51.57.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping 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 return on equity of 8.54% and a net margin of 50.44%. Wheaton Precious Metals’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. Analysts forecast that Wheaton Precious Metals Corp. will post 1.38 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is 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.