Wheaton Precious Metals Corp. $WPM Holdings Raised by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,177 shares of the company’s stock after purchasing an additional 341 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Wheaton Precious Metals were worth $1,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of WPM. Canada Pension Plan Investment Board raised its stake in shares of Wheaton Precious Metals by 57.6% during the first quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company’s stock valued at $162,811,000 after purchasing an additional 766,947 shares in the last quarter. Amundi raised its stake in shares of Wheaton Precious Metals by 33.2% during the first quarter. Amundi now owns 2,745,947 shares of the company’s stock valued at $215,557,000 after purchasing an additional 683,674 shares in the last quarter. Nuveen LLC bought a new stake in shares of Wheaton Precious Metals during the first quarter valued at about $36,885,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Wheaton Precious Metals by 10.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company’s stock valued at $393,800,000 after purchasing an additional 470,651 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Wheaton Precious Metals by 17.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,465,542 shares of the company’s stock valued at $191,357,000 after purchasing an additional 363,375 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Trading Up 3.0%

Shares of WPM opened at $97.99 on Friday. The business’s 50-day moving average price is $104.06 and its 200 day moving average price is $94.00. The stock has a market capitalization of $44.49 billion, a P/E ratio of 56.64, a P/E/G ratio of 1.67 and a beta of 0.41. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company had revenue of $503.22 million during the quarter, compared to analyst estimates of $424.23 million. During the same period in the prior year, the firm earned $0.33 earnings per share. The business’s quarterly revenue was up 68.2% on a year-over-year basis. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is currently 38.15%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WPM shares. Scotiabank restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. CIBC boosted their price target on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Bank of America boosted their price target on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.00.

About Wheaton Precious Metals

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.