Balentine LLC Takes $203,000 Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Balentine LLC acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,114 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WPM. Signaturefd LLC lifted its position in shares of Wheaton Precious Metals by 3.2% during the 3rd quarter. Signaturefd LLC now owns 11,562 shares of the company’s stock valued at $469,000 after acquiring an additional 363 shares during the last quarter. Syon Capital LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter valued at $254,000. Euro Pacific Asset Management LLC raised its stake in Wheaton Precious Metals by 0.8% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 330,489 shares of the company’s stock valued at $13,400,000 after purchasing an additional 2,489 shares during the period. Parsons Capital Management Inc. RI raised its stake in Wheaton Precious Metals by 0.4% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 57,361 shares of the company’s stock valued at $2,326,000 after purchasing an additional 250 shares during the period. Finally, PFG Investments LLC raised its stake in Wheaton Precious Metals by 32.4% during the 3rd quarter. PFG Investments LLC now owns 9,733 shares of the company’s stock valued at $395,000 after purchasing an additional 2,382 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

WPM stock opened at $55.69 on Friday. The company has a 50-day moving average of $51.43 and a two-hundred day moving average of $48.02. Wheaton Precious Metals Corp. has a 52-week low of $38.37 and a 52-week high of $57.87. The stock has a market capitalization of $25.25 billion, a price-to-earnings ratio of 42.84, a price-to-earnings-growth ratio of 2.05 and a beta of 0.75.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $278.95 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company’s revenue for the quarter was up 38.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. Equities analysts expect that Wheaton Precious Metals Corp. will post 1.28 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Wednesday, May 29th. Wheaton Precious Metals’s payout ratio is 47.69%.

Wall Street Analyst Weigh In

WPM has been the topic of several recent analyst reports. TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and boosted their target price for the company from $51.00 to $53.00 in a research note on Monday, March 18th. National Bank Financial downgraded shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Raymond James dropped their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Thursday, February 22nd. Scotiabank upped their price target on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an “outperform” rating in a research note on Thursday. Finally, CIBC increased their target price on shares of Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.33.

Wheaton Precious Metals 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.