Icon Wealth Advisors LLC Makes New $185,000 Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Icon Wealth Advisors LLC purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,026 shares of the company’s stock, valued at approximately $185,000.

Several other hedge funds have also made changes to their positions in WPM. Ridgewood Investments LLC purchased a new position in Wheaton Precious Metals during the second quarter worth about $31,000. Abich Financial Wealth Management LLC purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter worth about $31,000. Sunbelt Securities Inc. acquired a new stake in shares of Wheaton Precious Metals in the second quarter worth approximately $47,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals in the third quarter valued at approximately $48,000. Finally, Massmutual Trust Co. FSB ADV increased its position in Wheaton Precious Metals by 25.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Up 1.0 %

NYSE WPM opened at $62.33 on Friday. The stock has a market cap of $28.28 billion, a P/E ratio of 46.51, a PEG ratio of 1.75 and a beta of 0.77. The company’s fifty day simple moving average is $62.99 and its 200-day simple moving average is $59.38. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter in the previous year, the business posted $0.27 EPS. On average, research analysts expect that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is currently 46.27%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Raymond James lifted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Jefferies Financial Group boosted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. UBS Group started coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They set a “buy” rating and a $78.00 price target for the company. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals 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.