First Horizon Advisors Inc. Acquires Shares of 1,090 Wheaton Precious Metals Corp. (NYSE:WPM)

First Horizon Advisors Inc. bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, HoldingsChannel.com reports. The fund bought 1,090 shares of the company’s stock, valued at approximately $67,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Well Done LLC increased its stake in Wheaton Precious Metals by 173.9% during the 3rd quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after purchasing an additional 24,196 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in Wheaton Precious Metals in the 2nd quarter worth approximately $1,016,000. Swiss National Bank raised its holdings in Wheaton Precious Metals by 0.8% in the 3rd quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock worth $83,854,000 after acquiring an additional 10,600 shares during the last quarter. CIBC Asset Management Inc lifted its position in Wheaton Precious Metals by 10.6% in the 3rd quarter. CIBC Asset Management Inc now owns 2,273,160 shares of the company’s stock valued at $140,099,000 after acquiring an additional 218,575 shares in the last quarter. Finally, Canoe Financial LP purchased a new stake in Wheaton Precious Metals during the 3rd quarter valued at $113,017,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $63.81 on Monday. The firm has a fifty day moving average price of $63.01 and a 200-day moving average price of $59.20. The company has a market cap of $28.95 billion, a price-to-earnings ratio of 47.62, a PEG ratio of 2.32 and a beta of 0.77. 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 announced its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $324.57 million. During the same period in the prior year, the company earned $0.27 earnings per share. Equities research analysts expect that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on WPM shares. Jefferies Financial Group upped their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Scotiabank raised their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. UBS Group began 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 on the stock. Finally, TD Securities lifted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

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.