Shikiar Asset Management Inc. Takes Position in Wheaton Precious Metals Corp. $WPM

Shikiar Asset Management Inc. acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 58,775 shares of the company’s stock, valued at approximately $6,573,000. Wheaton Precious Metals accounts for 1.7% of Shikiar Asset Management Inc.’s portfolio, making the stock its 25th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bulwark Capital Corp purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter worth $27,000. Delta Asset Management LLC TN purchased a new position in Wheaton Precious Metals during the second quarter worth about $27,000. Pacifica Partners Inc. increased its position in shares of Wheaton Precious Metals by 27.8% during the third quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock valued at $51,000 after acquiring an additional 100 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Wheaton Precious Metals in the 1st quarter valued at approximately $38,000. Finally, City State Bank lifted its holdings in shares of Wheaton Precious Metals by 40.0% in the 2nd quarter. City State Bank now owns 560 shares of the company’s stock worth $50,000 after acquiring an additional 160 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $122.13 on Tuesday. The business has a 50-day moving average of $105.25 and a two-hundred day moving average of $100.07. The firm has a market capitalization of $55.45 billion, a PE ratio of 55.51, a P/E/G ratio of 1.78 and a beta of 0.54. Wheaton Precious Metals Corp. has a 12 month low of $55.47 and a 12 month high of $123.82.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The firm had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. During the same quarter last year, the firm posted $0.34 earnings per share. Wheaton Precious Metals’s revenue for the quarter was up 54.5% compared to the same quarter last year. As a group, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were paid a $0.165 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 30.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WPM. Royal Bank Of Canada upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $115.00 to $130.00 in a report on Wednesday, December 10th. Berenberg Bank upped their target price on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a report on Friday, September 12th. Zacks Research upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Jefferies Financial Group reissued a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a research report on Sunday, December 7th. Finally, Raymond James Financial raised their price objective on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $130.78.

About Wheaton Precious Metals

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.