Equitable Trust Co. Takes $2.53 Million Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Equitable Trust Co. bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,419 shares of the company’s stock, valued at approximately $2,530,000.

Several other hedge funds have also recently added to or reduced their stakes in WPM. AdvisorNet Financial Inc increased its position in shares of Wheaton Precious Metals by 6.1% during the second quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock worth $175,000 after purchasing an additional 190 shares in the last quarter. Principal Financial Group Inc. grew its stake in Wheaton Precious Metals by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock worth $1,208,000 after buying an additional 196 shares during the last quarter. Vontobel Holding Ltd. increased its position in Wheaton Precious Metals by 0.6% during the third quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock worth $2,110,000 after buying an additional 197 shares during the period. Capital International Inc. CA lifted its stake in Wheaton Precious Metals by 2.5% in the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after buying an additional 204 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its holdings in shares of Wheaton Precious Metals by 1.0% in the third quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock valued at $1,318,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

WPM opened at $64.82 on Friday. Wheaton Precious Metals Corp. has a 12 month low of $38.57 and a 12 month high of $68.64. The stock has a market capitalization of $29.40 billion, a P/E ratio of 48.37, a P/E/G ratio of 2.29 and a beta of 0.77. The business has a 50 day simple moving average of $62.79 and a 200-day simple moving average of $58.62.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate 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 company had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same period in the previous year, the firm earned $0.31 EPS. The business’s revenue was up 12.9% on a year-over-year basis. Research analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is currently 46.27%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. TD Securities raised their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday. Scotiabank upped their price objective on 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. Finally, Raymond James lifted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.88.

Wheaton Precious Metals Company Profile

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.