NewEdge Advisors LLC Acquires 6,445 Shares of Wheaton Precious Metals Corp. $WPM

NewEdge Advisors LLC raised its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 18.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,742 shares of the company’s stock after buying an additional 6,445 shares during the period. NewEdge Advisors LLC’s holdings in Wheaton Precious Metals were worth $5,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WPM. Assetmark Inc. increased its holdings in shares of Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the period. Cornerstone Planning Group LLC boosted its holdings in Wheaton Precious Metals by 245.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock valued at $29,000 after acquiring an additional 162 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in Wheaton Precious Metals by 100.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares during the period. Hollencrest Capital Management grew its position in Wheaton Precious Metals by 73.5% during the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in Wheaton Precious Metals in the 4th quarter worth approximately $28,000. 70.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on WPM. Royal Bank Of Canada lowered their price objective on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. UBS Group lowered their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Scotiabank dropped their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $134.37 on Wednesday. The stock’s 50-day moving average is $115.33 and its 200 day moving average is $130.71. The company has a market cap of $61.03 billion, a PE ratio of 29.79, a P/E/G ratio of 2.39 and a beta of 0.55. Wheaton Precious Metals Corp. has a 1 year low of $90.94 and a 1 year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. Wheaton Precious Metals had a return on equity of 22.61% and a net margin of 64.66%.The business’s revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. Analysts expect that Wheaton Precious Metals Corp. will post 4.76 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th 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 Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio is currently 17.29%.

Wheaton Precious Metals 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.