Artemis Investment Management LLP Buys New Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Artemis Investment Management LLP purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 55,122 shares of the company’s stock, valued at approximately $2,891,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of WPM. Principal Securities Inc. bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $39,000. Fifth Third Bancorp boosted its stake in shares of Wheaton Precious Metals by 230.7% during the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after acquiring an additional 602 shares in the last quarter. St. Johns Investment Management Company LLC acquired a new position in shares of Wheaton Precious Metals in the 1st quarter worth $52,000. Western Pacific Wealth Management LP raised its position in shares of Wheaton Precious Metals by 47.6% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock worth $55,000 after purchasing an additional 359 shares during the period. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Wheaton Precious Metals by 30.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock valued at $57,000 after purchasing an additional 273 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Up 2.9 %

Shares of WPM traded up $1.60 during midday trading on Monday, reaching $57.41. 683,593 shares of the stock were exchanged, compared to its average volume of 1,835,552. The company has a market cap of $26.04 billion, a price-to-earnings ratio of 42.93, a P/E/G ratio of 2.06 and a beta of 0.76. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $63.06. The firm has a 50 day simple moving average of $55.89 and a 200-day simple moving average of $51.38.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 earnings per share. Research analysts expect that Wheaton Precious Metals Corp. will post 1.38 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WPM shares. CIBC boosted their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Bank of America upped their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Scotiabank boosted their target price on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Jefferies Financial Group raised their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Berenberg Bank upped their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

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.