Perfromance Wealth Partners LLC Purchases Shares of 3,601 Wheaton Precious Metals Corp. (NYSE:WPM)

Perfromance Wealth Partners LLC acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,601 shares of the company’s stock, valued at approximately $220,000.

Other hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $47,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Wheaton Precious Metals during the first quarter valued at approximately $52,000. Finally, Western Pacific Wealth Management LP raised its stake in shares of Wheaton Precious Metals by 19.6% during the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 218 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday. Raymond James lifted their price target on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, TD Securities dropped their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $69.88.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $60.71 on Friday. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $64.82. The company has a market cap of $27.53 billion, a price-to-earnings ratio of 46.70, a price-to-earnings-growth ratio of 2.15 and a beta of 0.78. The firm has a fifty day moving average of $60.27 and a 200-day moving average of $56.54.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $309.54 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts predict that Wheaton Precious Metals Corp. will post 1.42 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

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.