3,975 Shares in Wheaton Precious Metals Corp. (NYSE:WPM) Purchased by New Harbor Financial Group LLC

New Harbor Financial Group LLC acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the second quarter, HoldingsChannel reports. The institutional investor acquired 3,975 shares of the company’s stock, valued at approximately $208,000.

Other large investors have also recently made changes to their positions in the company. King Luther Capital Management Corp purchased a new stake in Wheaton Precious Metals during the fourth quarter valued at approximately $6,154,000. Marketfield Asset Management LLC increased its holdings in shares of Wheaton Precious Metals by 61.0% in the fourth quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock worth $4,343,000 after purchasing an additional 33,337 shares during the last quarter. Financial Sense Advisors Inc. lifted its position in shares of Wheaton Precious Metals by 54.0% in the first quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock worth $2,679,000 after buying an additional 19,924 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in Wheaton Precious Metals during the first quarter valued at approximately $1,752,000. Finally, Alberta Investment Management Corp grew its holdings in Wheaton Precious Metals by 0.8% during the 4th quarter. Alberta Investment Management Corp now owns 957,947 shares of the company’s stock valued at $47,491,000 after buying an additional 7,610 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WPM has been the topic of several recent research reports. CIBC upped their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group upped their price target on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 12th. Scotiabank boosted their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Bank of America raised their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, TD Securities lowered their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average price target of $67.50.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $61.81 on Tuesday. Wheaton Precious Metals Corp. has a fifty-two week low of $38.37 and a fifty-two week high of $63.06. The firm has a market capitalization of $28.04 billion, a P/E ratio of 47.55, a PEG ratio of 2.28 and a beta of 0.76. The stock has a 50-day simple moving average of $58.17 and a two-hundred day simple moving average of $52.99.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The business had revenue of $299.06 million during the quarter, compared to analysts’ expectations of $309.54 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, analysts forecast that Wheaton Precious Metals Corp. will post 1.39 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is 47.69%.

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.