Harvest Portfolios Group Inc. Purchases New Shares in Wheaton Precious Metals Corp. $WPM

Harvest Portfolios Group Inc. acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,088 shares of the company’s stock, valued at approximately $727,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new stake in shares of Wheaton Precious Metals during the first quarter worth about $256,000. Principal Financial Group Inc. grew its stake in Wheaton Precious Metals by 34.6% during the 1st quarter. Principal Financial Group Inc. now owns 25,244 shares of the company’s stock valued at $1,959,000 after purchasing an additional 6,486 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Wheaton Precious Metals by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 423,981 shares of the company’s stock worth $32,914,000 after purchasing an additional 24,946 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Wheaton Precious Metals by 1,812.8% in the 1st quarter. Penserra Capital Management LLC now owns 746 shares of the company’s stock valued at $57,000 after purchasing an additional 707 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC acquired a new position in shares of Wheaton Precious Metals in the 1st quarter valued at approximately $221,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WPM has been the subject of a number of recent analyst reports. Raymond James Financial raised their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Scotiabank reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Wheaton Precious Metals in a report on Wednesday, October 8th. Bank of America boosted their target price on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, CIBC upped their target price on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.50.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $99.05 on Friday. The company has a market cap of $44.97 billion, a PE ratio of 57.25, a P/E/G ratio of 1.67 and a beta of 0.38. The company has a fifty day moving average price of $104.02 and a two-hundred day moving average price of $94.53. Wheaton Precious Metals Corp. has a 12 month low of $55.47 and a 12 month high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company had revenue of $476.26 million for the quarter, compared to analysts’ expectations of $495.53 million. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was up 54.5% compared to the same quarter last year. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 38.15%.

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.