Beck Bode LLC Takes Position in Wheaton Precious Metals Corp. $WPM

Beck Bode LLC purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 57,293 shares of the company’s stock, valued at approximately $5,145,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bulwark Capital Corp acquired a new position in Wheaton Precious Metals during the 2nd quarter valued at about $27,000. Wealth Preservation Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the first quarter worth approximately $38,000. Banque Cantonale Vaudoise acquired a new position in Wheaton Precious Metals in the first quarter valued at approximately $49,000. City State Bank boosted its stake in Wheaton Precious Metals by 40.0% in the second quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after acquiring an additional 160 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in Wheaton Precious Metals by 77.4% in the first quarter. Whittier Trust Co. now owns 763 shares of the company’s stock valued at $59,000 after acquiring an additional 333 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. CIBC upped their price objective on Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Wheaton Precious Metals in a report on Wednesday, October 8th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. Finally, Berenberg Bank increased their price target on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.50.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $104.13 on Wednesday. The business’s 50-day simple moving average is $104.11 and its 200-day simple moving average is $95.00. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $114.36. The stock has a market capitalization of $47.28 billion, a PE ratio of 60.19, a price-to-earnings-growth ratio of 1.67 and a beta of 0.38.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $495.53 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. The business’s quarterly revenue was up 54.5% compared to the same quarter last year. On average, research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be issued a dividend of $0.165 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 30.00%.

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.