First Trust Direct Indexing L.P. Buys 838 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

First Trust Direct Indexing L.P. boosted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 6.1% in the third quarter, Holdings Channel reports. The firm owned 14,538 shares of the company’s stock after acquiring an additional 838 shares during the period. First Trust Direct Indexing L.P.’s holdings in Wheaton Precious Metals were worth $888,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WPM. Mediolanum International Funds Ltd bought a new stake in shares of Wheaton Precious Metals during the 1st quarter worth $1,752,000. Russell Investments Group Ltd. lifted its position in Wheaton Precious Metals by 8.5% during the 1st quarter. Russell Investments Group Ltd. now owns 878,049 shares of the company’s stock worth $41,227,000 after acquiring an additional 68,755 shares during the last quarter. SageView Advisory Group LLC bought a new stake in Wheaton Precious Metals during the first quarter valued at about $770,000. Well Done LLC grew its position in shares of Wheaton Precious Metals by 173.9% in the third quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after purchasing an additional 24,196 shares during the last quarter. Finally, Forge First Asset Management Inc. bought a new position in shares of Wheaton Precious Metals in the first quarter worth about $4,817,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Securities decreased their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Scotiabank upped their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group raised their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.25.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $65.15 on Friday. The company’s fifty day moving average price is $62.47 and its two-hundred day moving average price is $58.05. The firm has a market capitalization of $29.55 billion, a PE ratio of 51.71, a price-to-earnings-growth ratio of 2.46 and a beta of 0.78. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly 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 firm had revenue of $299.06 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. Analysts predict that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.95%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 49.21%.

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.