Wheaton Precious Metals Corp. $WPM Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC raised its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 18.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,576 shares of the company’s stock after buying an additional 5,617 shares during the period. Moran Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $4,661,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WPM. Parvin Asset Management LLC boosted its stake in shares of Wheaton Precious Metals by 0.6% during the 4th quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock worth $1,401,000 after acquiring an additional 75 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in Wheaton Precious Metals by 0.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock valued at $2,405,000 after purchasing an additional 75 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in Wheaton Precious Metals by 1.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after purchasing an additional 78 shares during the last quarter. Gables Capital Management Inc. raised its holdings in Wheaton Precious Metals by 7.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock worth $127,000 after purchasing an additional 79 shares during the last quarter. Finally, Focus Financial Network Inc. raised its holdings in Wheaton Precious Metals by 2.5% during the fourth quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock worth $388,000 after purchasing an additional 81 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WPM has been the subject of a number of research analyst reports. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. TD Cowen boosted their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. TD Securities increased their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Scotiabank raised their target price on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, UBS Group cut their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $154.73.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $115.58 on Friday. The business’s fifty day moving average price is $125.32 and its two-hundred day moving average price is $132.67. The stock has a market cap of $52.49 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 2.18 and a beta of 0.55. Wheaton Precious Metals Corp. has a one year low of $85.59 and a one year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The company had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same quarter last year, the business posted $0.55 earnings per share. Wheaton Precious Metals’s revenue was up 91.7% compared to the same quarter last year. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 4.99 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 19.70%.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.