HighTower Advisors LLC Has $25.28 Million Stock Position in Wheaton Precious Metals Corp. $WPM

HighTower Advisors LLC boosted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 215,123 shares of the company’s stock after purchasing an additional 15,358 shares during the period. HighTower Advisors LLC’s holdings in Wheaton Precious Metals were worth $25,281,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. raised its stake in shares of Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Wheaton Precious Metals in the third quarter valued at $29,000. Navalign LLC acquired a new position in Wheaton Precious Metals during the fourth quarter worth $30,000. Eagle Bay Advisors LLC acquired a new position in Wheaton Precious Metals during the fourth quarter worth $32,000. Finally, Triumph Capital Management bought a new stake in Wheaton Precious Metals during the third quarter worth $33,000. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. BMO Capital Markets began coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target for the company. UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Friday, March 27th. TD Securities upped their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $126.39 on Friday. The company’s 50-day moving average is $134.50 and its 200-day moving average is $129.47. The firm has a market capitalization of $57.39 billion, a PE ratio of 31.92, a PEG ratio of 2.46 and a beta of 0.50. Wheaton Precious Metals Corp. has a fifty-two week low of $84.46 and a fifty-two week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same quarter in the previous year, the firm posted $0.55 EPS. Wheaton Precious Metals’s revenue was up 91.7% compared to the same quarter last year. Analysts predict that Wheaton Precious Metals Corp. will post 4.87 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is currently 19.70%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.