Wheaton Precious Metals Corp. $WPM Shares Bought by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI raised its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 3.0% during the 2nd quarter, Holdings Channel reports. The firm owned 53,509 shares of the company’s stock after acquiring an additional 1,583 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Wheaton Precious Metals were worth $4,805,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WPM. Bulwark Capital Corp acquired a new stake in Wheaton Precious Metals in the second quarter valued at $27,000. NBT Bank N A NY lifted its position in shares of Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company’s stock valued at $32,000 after acquiring an additional 234 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Wheaton Precious Metals in the first quarter valued at $38,000. Banque Cantonale Vaudoise purchased a new stake in shares of Wheaton Precious Metals in the first quarter valued at $49,000. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Wheaton Precious Metals in the first quarter valued at $52,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 0.3%

NYSE WPM opened at $111.49 on Thursday. The business’s 50-day moving average price is $100.32 and its 200 day moving average price is $89.79. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $114.01. The company has a market capitalization of $50.61 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same period in the prior year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 68.2% compared to the same quarter last year. Equities analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s payout ratio is presently 38.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WPM. Scotiabank upped their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 12th. UBS Group upped their price objective on Wheaton Precious Metals from $106.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, September 19th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. CIBC upped their price objective on Wheaton Precious Metals from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, September 25th. Finally, Berenberg Bank increased their target price on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $106.11.

Wheaton Precious Metals Profile

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.