Insigneo Advisory Services LLC Increases Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Insigneo Advisory Services LLC lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 2.2% during the third quarter, HoldingsChannel.com reports. The firm owned 8,553 shares of the company’s stock after purchasing an additional 187 shares during the period. Insigneo Advisory Services LLC’s holdings in Wheaton Precious Metals were worth $522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WPM. AdvisorNet Financial Inc boosted its position in shares of Wheaton Precious Metals by 6.1% in the second quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock worth $175,000 after acquiring an additional 190 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Wheaton Precious Metals by 1.0% in the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock worth $1,208,000 after acquiring an additional 196 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Wheaton Precious Metals by 0.6% in the third quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock worth $2,110,000 after acquiring an additional 197 shares during the last quarter. Arkadios Wealth Advisors boosted its position 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 worth $1,318,000 after acquiring an additional 210 shares during the last quarter. Finally, Western Pacific Wealth Management LP boosted its position in shares of Wheaton Precious Metals by 13.9% in the third quarter. Western Pacific Wealth Management LP now owns 1,732 shares of the company’s stock worth $106,000 after acquiring an additional 212 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Down 2.5 %

NYSE WPM opened at $61.33 on Friday. The company’s fifty day simple moving average is $62.89 and its 200-day simple moving average is $59.60. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $68.64. The stock has a market cap of $27.82 billion, a P/E ratio of 45.77, a PEG ratio of 1.76 and a beta of 0.75.

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

Wheaton Precious Metals Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised 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 report on Friday, October 4th. TD Securities lifted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. 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 research report on Friday, October 25th. 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. Finally, UBS Group began coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

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.