Financial Sense Advisors Inc. Increases Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Financial Sense Advisors Inc. boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 54.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,836 shares of the company’s stock after acquiring an additional 19,924 shares during the period. Wheaton Precious Metals comprises approximately 0.9% of Financial Sense Advisors Inc.’s portfolio, making the stock its 28th largest position. Financial Sense Advisors Inc.’s holdings in Wheaton Precious Metals were worth $2,679,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WPM. Envestnet Asset Management Inc. increased its stake in Wheaton Precious Metals by 22.9% in the third quarter. Envestnet Asset Management Inc. now owns 74,486 shares of the company’s stock valued at $3,020,000 after purchasing an additional 13,875 shares during the period. LPL Financial LLC increased its stake in Wheaton Precious Metals by 2.0% in the third quarter. LPL Financial LLC now owns 174,515 shares of the company’s stock valued at $7,077,000 after purchasing an additional 3,461 shares during the period. Mariner LLC increased its stake in Wheaton Precious Metals by 5.8% in the third quarter. Mariner LLC now owns 29,174 shares of the company’s stock valued at $1,183,000 after purchasing an additional 1,598 shares during the period. Stifel Financial Corp increased its stake in Wheaton Precious Metals by 4.8% in the third quarter. Stifel Financial Corp now owns 80,999 shares of the company’s stock valued at $3,285,000 after purchasing an additional 3,730 shares during the period. Finally, Alpine Global Management LLC acquired a new position in Wheaton Precious Metals in the third quarter valued at $214,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. TD Securities upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $53.00 in a research note on Monday, March 18th. Berenberg Bank lifted their price objective on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. BMO Capital Markets boosted their price target on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. CIBC boosted their price target on shares of Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. Finally, Bank of America boosted their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Wheaton Precious Metals Trading Up 3.7 %

WPM stock opened at $54.56 on Thursday. The company has a market cap of $24.74 billion, a P/E ratio of 41.97, a P/E/G 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 company’s 50-day moving average price is $54.28 and its 200 day moving average price is $49.49.

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, beating the consensus estimate of $0.29 by $0.07. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company had revenue of $296.80 million for the quarter, compared to the consensus estimate of $278.95 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 38.7% compared to the same quarter last year. On average, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.29 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 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.