3,678 Shares in Wheaton Precious Metals Corp. (NYSE:WPM) Bought by Ritholtz Wealth Management

Ritholtz Wealth Management purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 3,678 shares of the company’s stock, valued at approximately $225,000.

A number of other institutional investors also recently modified their holdings of WPM. AdvisorNet Financial Inc grew its holdings in shares of 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 buying an additional 190 shares in the last quarter. Capital International Inc. CA raised its holdings in shares of Wheaton Precious Metals by 2.5% in the first 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 lifted its position in shares of 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 worth $63,000 after purchasing an additional 218 shares in the last quarter. Brookstone Capital Management boosted its holdings in Wheaton Precious Metals by 5.3% during the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock worth $225,000 after purchasing an additional 240 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position 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 purchasing an additional 253 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WPM shares. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. CIBC upped their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group raised their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. TD Securities dropped their price objective on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Berenberg Bank raised their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Buy” and an average price target of $69.88.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $63.58 on Friday. The company has a market cap of $28.84 billion, a P/E ratio of 50.46, a P/E/G ratio of 2.18 and a beta of 0.78. The firm’s fifty day moving average price is $60.87 and its two-hundred day moving average price is $56.90. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $64.82.

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

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 0.98%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 49.21%.

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.