Perfromance Wealth Partners LLC Takes Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Perfromance Wealth Partners LLC purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,601 shares of the company’s stock, valued at approximately $220,000.

A number of other large investors have also made changes to their positions in the stock. Ridgewood Investments LLC purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at about $31,000. Abich Financial Wealth Management LLC purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at about $31,000. Sunbelt Securities Inc. purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at about $47,000. St. Johns Investment Management Company LLC purchased a new position in Wheaton Precious Metals during the 1st quarter valued at about $52,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Wheaton Precious Metals by 25.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after acquiring an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday. TD Securities lowered their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Bank of America lifted their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. 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 report on Friday, October 4th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Wheaton Precious Metals has an average rating of “Buy” and a consensus target price of $69.88.

Wheaton Precious Metals Stock Performance

WPM opened at $60.71 on Friday. The company’s 50 day simple moving average is $60.27 and its 200 day simple moving average is $56.54. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $64.82. The stock has a market capitalization of $27.53 billion, a PE ratio of 46.70, a P/E/G ratio of 2.15 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. As a group, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a yield of 1.02%. Wheaton Precious Metals’s dividend payout ratio (DPR) 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.