Abich Financial Wealth Management LLC Buys New Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Abich Financial Wealth Management LLC purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 600 shares of the company’s stock, valued at approximately $31,000.

A number of other institutional investors have also recently made changes to their positions in the stock. AdvisorNet Financial Inc boosted its position in Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after buying an additional 190 shares during the period. Capital International Inc. CA raised its position in Wheaton Precious Metals by 2.5% during the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after purchasing an additional 204 shares during the last quarter. Western Pacific Wealth Management LP grew its position in shares of Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after buying an additional 218 shares during the last quarter. Brookstone Capital Management increased its stake in shares of Wheaton Precious Metals by 5.3% during the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock valued at $225,000 after buying an additional 240 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Wheaton Precious Metals by 25.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after acquiring an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $64.14 on Thursday. The company has a 50-day simple moving average of $59.86 and a two-hundred day simple moving average of $55.18. The stock has a market capitalization of $29.10 billion, a PE ratio of 49.34, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. Wheaton Precious Metals Corp. has a 52-week low of $38.37 and a 52-week high of $64.48.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 EPS. As a group, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.41 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 0.97%. Wheaton Precious Metals’s payout ratio is 47.69%.

Analysts Set New Price Targets

WPM has been the subject of several research reports. Scotiabank upped their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Bank of America lifted their price objective 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. Raymond James raised their target price on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday. Berenberg Bank raised their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.63.

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.