Moran Wealth Management LLC Increases Position in Wheaton Precious Metals Corp. $WPM

Moran Wealth Management LLC increased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 18.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,576 shares of the company’s stock after acquiring an additional 5,617 shares during the quarter. Moran Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $4,661,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. raised its holdings in Wheaton Precious Metals by 144.4% in the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in shares of Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $28,000. Navalign LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at $30,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at $32,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on WPM shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, June 29th. TD Securities raised their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target for the company. Finally, TD Cowen upped their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $154.73.

Wheaton Precious Metals Stock Down 0.1%

Shares of WPM stock opened at $115.58 on Friday. The firm’s 50 day moving average price is $125.32 and its two-hundred day moving average price is $132.67. Wheaton Precious Metals Corp. has a fifty-two week low of $85.59 and a fifty-two week high of $165.76. The stock has a market cap of $52.49 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 2.18 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same period in the prior year, the firm earned $0.55 EPS. The firm’s quarterly revenue was up 91.7% compared to the same quarter last year. On average, equities analysts forecast that Wheaton Precious Metals Corp. will post 4.99 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is 19.70%.

Wheaton Precious Metals Profile

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.