Atria Wealth Solutions Inc. Invests $945,000 in Wheaton Precious Metals Corp. (NYSE:WPM)

Atria Wealth Solutions Inc. bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,034 shares of the company’s stock, valued at approximately $945,000.

Several other institutional investors have also recently added to or reduced their stakes in WPM. AdvisorNet Financial Inc raised its holdings in Wheaton Precious Metals by 6.1% during the second quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock worth $175,000 after purchasing an additional 190 shares in the last quarter. Capital International Inc. CA raised its stake 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 worth $392,000 after acquiring an additional 204 shares in the last quarter. Western Pacific Wealth Management LP lifted its position in Wheaton Precious Metals by 19.6% in 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. Brookstone Capital Management boosted its stake in Wheaton Precious Metals by 5.3% in the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock valued at $225,000 after acquiring an additional 240 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Wheaton Precious Metals by 25.9% in 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WPM shares. CIBC lifted their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. TD Securities reduced their price objective on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Scotiabank increased their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Berenberg Bank lifted their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, Bank of America increased their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $62.11 on Friday. The business has a 50 day moving average price of $57.10 and a 200 day moving average price of $52.22. The company has a market capitalization of $28.18 billion, a P/E ratio of 47.78, a PEG ratio of 2.20 and a beta of 0.76. Wheaton Precious Metals Corp. has a 1-year low of $38.37 and a 1-year high of $63.06.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating 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 analysts’ expectations of $309.54 million. During the same quarter last year, the business 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, research analysts expect that Wheaton Precious Metals Corp. will post 1.38 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is currently 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.