AdvisorNet Financial Inc Increases Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

AdvisorNet Financial Inc lifted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,330 shares of the company’s stock after acquiring an additional 190 shares during the period. AdvisorNet Financial Inc’s holdings in Wheaton Precious Metals were worth $175,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Capital International Inc. CA grew its holdings in Wheaton Precious Metals by 2.5% during the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after purchasing an additional 204 shares during the last quarter. Western Pacific Wealth Management LP raised its holdings in shares of Wheaton Precious Metals by 19.6% in the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after buying an additional 218 shares during the period. Brookstone Capital Management lifted its stake in shares of Wheaton Precious Metals by 5.3% during the 1st quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock worth $225,000 after acquiring an additional 240 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted 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 during the period. Finally, Hexagon Capital Partners LLC grew its position in Wheaton Precious Metals by 30.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock valued at $57,000 after acquiring an additional 273 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WPM has been the subject of several research analyst reports. CIBC lifted their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. BMO Capital Markets upped their target price 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. TD Securities lowered their price target on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a report on Thursday. Berenberg Bank raised their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Jefferies Financial Group upped their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.89.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock traded up $0.20 during midday trading on Thursday, reaching $57.83. The company’s stock had a trading volume of 811,317 shares, compared to its average volume of 1,848,473. The stock has a market capitalization of $26.23 billion, a P/E ratio of 44.50, a PEG ratio of 2.08 and a beta of 0.76. The stock’s 50-day simple moving average is $56.12 and its 200-day simple moving average is $51.57. Wheaton Precious Metals Corp. has a 52-week low of $38.37 and a 52-week high of $63.06.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same period in the previous year, the company earned $0.31 earnings per share. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.38 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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