NewEdge Advisors LLC Purchases 6,445 Shares of Wheaton Precious Metals Corp. $WPM

NewEdge Advisors LLC boosted its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 18.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,742 shares of the company’s stock after purchasing an additional 6,445 shares during the quarter. NewEdge Advisors LLC’s holdings in Wheaton Precious Metals were worth $5,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in WPM. Assetmark Inc. raised its position in shares of Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after buying an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new position in Wheaton Precious Metals during the fourth quarter worth about $28,000. Cornerstone Planning Group LLC grew its position in Wheaton Precious Metals by 245.5% during the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after buying an additional 162 shares in the last quarter. Finally, Navalign LLC bought a new position in Wheaton Precious Metals in the 4th quarter worth about $30,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a report on Tuesday, July 28th. Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Scotiabank lowered their target price on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings lowered shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group cut 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. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Stock Up 0.7%

NYSE WPM opened at $134.37 on Wednesday. The stock’s 50-day simple moving average is $115.33 and its two-hundred day simple moving average is $130.71. Wheaton Precious Metals Corp. has a twelve month low of $90.94 and a twelve month high of $165.76. The company has a market capitalization of $61.03 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.39 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. Wheaton Precious Metals had a return on equity of 22.61% and a net margin of 64.66%.The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 EPS. On average, equities analysts expect that Wheaton Precious Metals Corp. will post 4.76 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.78 annualized dividend and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is currently 17.29%.

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.