Synergy Asset Management LLC Purchases 8,608 Shares of Wheaton Precious Metals Corp. $WPM

Synergy Asset Management LLC increased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 197.7% in the 3rd quarter, Holdings Channel reports. The firm owned 12,962 shares of the company’s stock after buying an additional 8,608 shares during the quarter. Synergy Asset Management LLC’s holdings in Wheaton Precious Metals were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in WPM. Norges Bank acquired a new stake in Wheaton Precious Metals in the 2nd quarter valued at $656,463,000. Invesco Ltd. lifted its stake in shares of Wheaton Precious Metals by 139.8% during the second quarter. Invesco Ltd. now owns 2,085,042 shares of the company’s stock valued at $187,237,000 after acquiring an additional 1,215,660 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Wheaton Precious Metals by 24.8% in the 2nd quarter. CIBC Asset Management Inc now owns 3,185,420 shares of the company’s stock valued at $288,255,000 after purchasing an additional 632,464 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Wheaton Precious Metals by 30.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,743,476 shares of the company’s stock valued at $246,572,000 after acquiring an additional 632,429 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Wheaton Precious Metals by 20.5% in the 2nd quarter. Geode Capital Management LLC now owns 3,653,717 shares of the company’s stock worth $332,793,000 after purchasing an additional 622,003 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $117.69 on Friday. The firm has a market cap of $53.43 billion, a price-to-earnings ratio of 53.50, a P/E/G ratio of 1.41 and a beta of 0.52. The stock’s fifty day moving average price is $108.18 and its two-hundred day moving average price is $101.87. Wheaton Precious Metals Corp. has a one year low of $55.51 and a one year high of $124.30.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The company had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $495.53 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 54.5% on a year-over-year basis. On average, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio is presently 30.00%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WPM shares. Jefferies Financial Group reissued a “buy” rating and set a $145.00 price objective on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Raymond James Financial raised their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Berenberg Bank lifted their price objective on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, UBS Group boosted their target price on Wheaton Precious Metals from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.78.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.