AE Wealth Management LLC Buys Shares of 17,312 Wheaton Precious Metals Corp. (NYSE:WPM)

AE Wealth Management LLC bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, Holdings Channel reports. The firm bought 17,312 shares of the company’s stock, valued at approximately $907,000.

Several other institutional investors and hedge funds also recently bought and sold shares of WPM. Ridgewood Investments LLC acquired a new position in Wheaton Precious Metals in the 2nd quarter valued at about $31,000. St. Johns Investment Management Company LLC acquired a new position in Wheaton Precious Metals in the 1st quarter valued at about $52,000. Western Pacific Wealth Management LP boosted its holdings in 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 valued at $63,000 after purchasing an additional 218 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Wheaton Precious Metals by 25.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after acquiring an additional 253 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Wheaton Precious Metals in the 1st quarter worth approximately $75,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WPM. TD Securities decreased their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. 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. Raymond James upped their price objective on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday. Bank of America upped their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Jefferies Financial Group upped their price objective on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average target price of $68.63.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $64.14 on Thursday. Wheaton Precious Metals Corp. has a one year low of $38.37 and a one year high of $64.48. The company has a market cap of $29.10 billion, a PE ratio of 49.34, a P/E/G ratio of 2.27 and a beta of 0.78. The business has a 50-day simple moving average of $59.86 and a 200-day simple moving average of $55.18.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. During the same period in the previous year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.41 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

Wheaton Precious Metals Company 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.