HighTower Advisors LLC Increases Position in Wheaton Precious Metals Corp. (NYSE:WPM)

HighTower Advisors LLC boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 61.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 235,675 shares of the company’s stock after purchasing an additional 89,671 shares during the quarter. HighTower Advisors LLC’s holdings in Wheaton Precious Metals were worth $14,381,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WPM. Charles Schwab Investment Management Inc. lifted its position in shares of Wheaton Precious Metals by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after buying an additional 36,970 shares in the last quarter. Well Done LLC lifted its holdings in Wheaton Precious Metals by 173.9% during the third quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after purchasing an additional 24,196 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at about $1,016,000. Swiss National Bank increased its stake in shares of Wheaton Precious Metals by 0.8% during the third quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock worth $83,854,000 after purchasing an additional 10,600 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Wheaton Precious Metals during the 3rd quarter worth about $1,287,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on WPM. TD Securities lifted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, UBS Group initiated coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Trading Down 2.5 %

Shares of WPM opened at $61.33 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $68.64. The firm has a market capitalization of $27.82 billion, a P/E ratio of 45.77, a P/E/G ratio of 1.76 and a beta of 0.75. The firm has a 50-day moving average price of $62.89 and a 200 day moving average price of $59.60.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $308.25 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.27 EPS. Equities research analysts predict that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were given a $0.155 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 1.01%. Wheaton Precious Metals’s dividend payout ratio is currently 46.27%.

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.