Independent Financial Group LLC Makes New $687,000 Investment in Wheaton Precious Metals Corp. $WPM

Independent Financial Group LLC purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,241 shares of the company’s stock, valued at approximately $687,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WPM. D.A. Davidson & CO. raised its holdings in shares of Wheaton Precious Metals by 198.5% during the 1st quarter. D.A. Davidson & CO. now owns 23,787 shares of the company’s stock valued at $3,116,000 after buying an additional 15,818 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Wheaton Precious Metals by 1.3% in the first quarter. Geneos Wealth Management Inc. now owns 11,424 shares of the company’s stock worth $1,497,000 after buying an additional 145 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Wheaton Precious Metals by 132.0% in the first quarter. Sanctuary Advisors LLC now owns 19,630 shares of the company’s stock worth $2,572,000 after buying an additional 11,167 shares in the last quarter. Sigma Planning Corp bought a new position in Wheaton Precious Metals during the first quarter valued at approximately $1,254,000. Finally, Maryland State Retirement & Pension System grew its position in Wheaton Precious Metals by 7.1% during the first quarter. Maryland State Retirement & Pension System now owns 51,114 shares of the company’s stock valued at $6,711,000 after acquiring an additional 3,394 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WPM shares. Royal Bank Of Canada lowered their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. UBS Group decreased their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Jefferies Financial Group lowered their price target on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, July 6th. BMO Capital Markets started 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, Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $161.09.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $111.46 on Thursday. The company has a market capitalization of $50.62 billion, a P/E ratio of 28.15, a PEG ratio of 1.99 and a beta of 0.55. Wheaton Precious Metals Corp. has a fifty-two week low of $90.39 and a fifty-two week high of $165.76. The stock has a 50 day moving average price of $118.46 and a two-hundred day moving average price of $131.84.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. During the same quarter last year, the business earned $0.55 earnings per share. The business’s revenue was up 91.7% on a year-over-year basis. As a group, equities analysts predict that Wheaton Precious Metals Corp. will post 4.73 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

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

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.