Banyan Capital Management Inc. Purchases New Holdings in Wheaton Precious Metals Corp. $WPM

Banyan Capital Management Inc. acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,325 shares of the company’s stock, valued at approximately $484,000.

Other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the 3rd quarter worth about $26,000. Root Financial Partners LLC bought a new stake in Wheaton Precious Metals in the third quarter worth about $29,000. Delta Asset Management LLC TN bought a new stake in Wheaton Precious Metals in the second quarter worth about $27,000. Pacifica Partners Inc. boosted its stake in Wheaton Precious Metals by 27.8% in 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. Finally, City State Bank grew its position in shares of Wheaton Precious Metals by 40.0% during the 2nd quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after acquiring an additional 160 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $152.73 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $61.22 and a fifty-two week high of $160.36. The stock has a market cap of $69.35 billion, a PE ratio of 69.42, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. The stock has a fifty day moving average of $122.12 and a 200-day moving average of $107.94.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The business had revenue of $476.26 million during the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.The firm’s revenue was up 54.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.66 annualized dividend and a yield of 0.4%. Wheaton Precious Metals’s payout ratio is currently 30.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WPM shares. Raymond James Financial lifted their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. UBS Group lifted their price objective on Wheaton Precious Metals from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, December 1st. Finally, CIBC upped their price objective on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $136.00.

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.