Ballentine Partners LLC Makes New $208,000 Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Ballentine Partners LLC acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,400 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in shares of Wheaton Precious Metals during the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC purchased a new stake in Wheaton Precious Metals during the second quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new stake in Wheaton Precious Metals during the second quarter valued at approximately $47,000. Massmutual Trust Co. FSB ADV lifted its position in 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 during the last quarter. Finally, Western Pacific Wealth Management LP lifted its position in Wheaton Precious Metals by 19.6% during the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after acquiring an additional 218 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WPM has been the subject of a number of analyst reports. Jefferies Financial Group increased their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. TD Securities decreased their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Raymond James increased their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, CIBC raised their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.25.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $67.85 on Wednesday. The firm has a market capitalization of $30.77 billion, a P/E ratio of 52.19, a PEG ratio of 2.41 and a beta of 0.78. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $68.64. The company’s fifty day moving average price is $62.26 and its 200-day moving average price is $57.92.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million during the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 earnings per share. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.91%. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

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.