Trek Financial LLC Acquires New Shares in Wheaton Precious Metals Corp. $WPM

Trek Financial LLC acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 49,106 shares of the company’s stock, valued at approximately $4,410,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WPM. 1832 Asset Management L.P. grew its stake in shares of Wheaton Precious Metals by 769.5% in the second quarter. 1832 Asset Management L.P. now owns 233,461 shares of the company’s stock worth $20,965,000 after acquiring an additional 206,612 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Wheaton Precious Metals by 30.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,743,476 shares of the company’s stock worth $246,572,000 after purchasing an additional 632,429 shares during the last quarter. Westerkirk Capital Inc. purchased a new stake in Wheaton Precious Metals in the second quarter worth approximately $2,258,000. Quantbot Technologies LP bought a new stake in Wheaton Precious Metals in the 2nd quarter worth approximately $787,000. Finally, Lido Advisors LLC raised its stake in Wheaton Precious Metals by 19.9% during the 2nd quarter. Lido Advisors LLC now owns 7,092 shares of the company’s stock valued at $637,000 after buying an additional 1,176 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Bank of America raised their price target on Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Zacks Research raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday. Raymond James Financial upped their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Finally, Berenberg Bank increased their price objective on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $124.00.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $107.60 on Wednesday. The stock has a market cap of $48.85 billion, a P/E ratio of 62.20, a P/E/G ratio of 1.67 and a beta of 0.38. The stock’s fifty day moving average is $103.82 and its 200 day moving average is $97.46. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business 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 business posted $0.34 earnings per share. The business’s quarterly revenue was up 54.5% on a year-over-year basis. Analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio is currently 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.