Miracle Mile Advisors LLC Purchases Shares of 13,740 Wheaton Precious Metals Corp. (NYSE:WPM)

Miracle Mile Advisors LLC acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the fourth quarter, HoldingsChannel reports. The fund acquired 13,740 shares of the company’s stock, valued at approximately $773,000.

Several other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc bought a new position in Wheaton Precious Metals during the fourth quarter worth about $29,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $31,000. GAMMA Investing LLC bought a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $41,000. St. Johns Investment Management Company LLC bought a new position in shares of Wheaton Precious Metals during the 3rd quarter worth approximately $48,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $47,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on WPM. UBS Group started coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 price objective for the company. TD Securities upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $58.12 on Thursday. The company has a market capitalization of $26.37 billion, a P/E ratio of 43.37, a P/E/G ratio of 1.67 and a beta of 0.76. The business’s 50 day simple moving average is $59.89 and its 200 day simple moving average is $60.40. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. During the same period in the prior year, the firm posted $0.27 EPS. On average, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were given a dividend of $0.155 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.07%. Wheaton Precious Metals’s dividend payout ratio is 46.27%.

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.