Silverlake Wealth Management LLC Increases Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Silverlake Wealth Management LLC grew its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 17.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,831 shares of the company’s stock after purchasing an additional 1,185 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $369,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WPM. Norges Bank acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at $387,481,000. Van ECK Associates Corp lifted its stake in Wheaton Precious Metals by 9.9% during the fourth quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock worth $1,012,517,000 after purchasing an additional 1,856,031 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its holdings in Wheaton Precious Metals by 426.7% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 957,339 shares of the company’s stock valued at $47,460,000 after purchasing an additional 775,588 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Wheaton Precious Metals by 27.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,190,190 shares of the company’s stock valued at $157,587,000 after purchasing an additional 694,583 shares during the last quarter. Finally, FIL Ltd raised its holdings in Wheaton Precious Metals by 5.5% during the fourth quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock worth $525,235,000 after purchasing an additional 550,804 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WPM has been the subject of several research analyst reports. CIBC upped their target price on shares of Wheaton Precious Metals from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, May 22nd. BMO Capital Markets upped their price objective on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Berenberg Bank lifted their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Bank of America upped their target price on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Scotiabank lifted their price target on Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.50.

Wheaton Precious Metals Trading Up 1.1 %

NYSE:WPM opened at $52.62 on Wednesday. The stock’s 50 day simple moving average is $54.24 and its 200-day simple moving average is $49.46. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $57.87. The firm has a market cap of $23.86 billion, a P/E ratio of 40.48, a PEG ratio of 1.83 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company had revenue of $296.80 million during the quarter, compared to the consensus estimate of $278.95 million. During the same quarter in the prior year, the firm earned $0.23 EPS. Wheaton Precious Metals’s quarterly revenue was up 38.7% on a year-over-year basis. Research analysts forecast that Wheaton Precious Metals Corp. will post 1.29 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

About Wheaton Precious Metals

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.