Confluence Investment Management LLC Acquires Shares of 11,282 Wheaton Precious Metals Corp. (NYSE:WPM)

Confluence Investment Management LLC acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,282 shares of the company’s stock, valued at approximately $532,000.

Several other large investors also recently bought and sold shares of the stock. Fielder Capital Group LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $1,046,000. King Luther Capital Management Corp purchased a new position in shares of Wheaton Precious Metals during the fourth quarter worth about $6,154,000. Marketfield Asset Management LLC grew its holdings in shares of Wheaton Precious Metals by 61.0% during the fourth quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock worth $4,343,000 after buying an additional 33,337 shares during the last quarter. Alberta Investment Management Corp grew its holdings in shares of Wheaton Precious Metals by 0.8% during the fourth quarter. Alberta Investment Management Corp now owns 957,947 shares of the company’s stock worth $47,491,000 after buying an additional 7,610 shares during the last quarter. Finally, FIL Ltd grew its holdings in shares of Wheaton Precious Metals by 5.5% during the fourth quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock worth $525,235,000 after buying an additional 550,804 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of WPM stock traded up $0.28 during midday trading on Tuesday, reaching $52.97. 464,571 shares of the company traded hands, compared to its average volume of 1,958,548. The firm’s 50 day simple moving average is $54.03 and its two-hundred day simple moving average is $49.09. Wheaton Precious Metals Corp. has a 1-year low of $38.37 and a 1-year high of $57.87. The firm has a market cap of $24.01 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company had revenue of $296.80 million during the quarter, compared to the consensus estimate of $278.95 million. During the same period last year, the firm earned $0.23 EPS. The company’s revenue for the quarter was up 38.7% on a year-over-year basis. As a group, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.29 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were paid a dividend of $0.155 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.17%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WPM shares. National Bank Financial lowered Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. TD Securities upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and raised their price objective for the company from $51.00 to $53.00 in a research report on Monday, March 18th. Scotiabank raised their price objective on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Jefferies Financial Group raised their price objective on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, Raymond James reduced their price objective on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.33.

About Wheaton Precious Metals

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.