Schwartz Investment Counsel Inc. Grows Stock Position in Wheaton Precious Metals Corp. $WPM

Schwartz Investment Counsel Inc. lifted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 273,000 shares of the company’s stock after buying an additional 5,000 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Wheaton Precious Metals were worth $24,515,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cerity Partners LLC increased its holdings in shares of Wheaton Precious Metals by 5.5% in the first quarter. Cerity Partners LLC now owns 20,271 shares of the company’s stock worth $1,574,000 after buying an additional 1,058 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Wheaton Precious Metals by 37.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company’s stock worth $630,000 after buying an additional 2,208 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Wheaton Precious Metals by 5.8% in the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company’s stock worth $419,000 after buying an additional 297 shares during the period. Voya Investment Management LLC increased its holdings in shares of Wheaton Precious Metals by 18.0% in the first quarter. Voya Investment Management LLC now owns 747,477 shares of the company’s stock worth $58,026,000 after buying an additional 113,835 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the second quarter worth about $218,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

WPM stock opened at $105.41 on Tuesday. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $114.36. The business’s 50 day moving average price is $103.66 and its two-hundred day moving average price is $92.90. The company has a market capitalization of $47.85 billion, a price-to-earnings ratio of 60.93, a price-to-earnings-growth ratio of 1.91 and a beta of 0.41.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same quarter in the prior year, the business earned $0.33 EPS. The business’s revenue for the quarter was up 68.2% on a year-over-year basis. Sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is 38.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Berenberg Bank lifted their price objective on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. Bank of America boosted their price target on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, October 16th. UBS Group boosted their price target on Wheaton Precious Metals from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Thursday. Finally, BMO Capital Markets restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.89.

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.