Avantax Advisory Services Inc. Increases Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Avantax Advisory Services Inc. increased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPMGet Rating) by 21.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,252 shares of the company’s stock after buying an additional 1,111 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Wheaton Precious Metals were worth $298,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WPM. Van ECK Associates Corp lifted its position in Wheaton Precious Metals by 6.4% during the fourth quarter. Van ECK Associates Corp now owns 22,488,298 shares of the company’s stock worth $965,425,000 after buying an additional 1,347,227 shares in the last quarter. Ruffer LLP lifted its position in Wheaton Precious Metals by 29.5% during the fourth quarter. Ruffer LLP now owns 5,625,487 shares of the company’s stock worth $237,137,000 after buying an additional 1,282,970 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Wheaton Precious Metals by 9.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,899,282 shares of the company’s stock worth $296,280,000 after buying an additional 594,520 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Wheaton Precious Metals during the fourth quarter worth approximately $21,250,000. Finally, Nordea Investment Management AB purchased a new position in Wheaton Precious Metals during the first quarter worth approximately $19,105,000. Hedge funds and other institutional investors own 67.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WPM shares. KeyCorp reduced their target price on Wheaton Precious Metals from $56.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday. Raymond James set a $61.00 price objective on Wheaton Precious Metals and gave the company an “outperform” rating in a research note on Friday, May 6th. TD Securities dropped their price objective on Wheaton Precious Metals from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, May 9th. National Bank Financial lifted their price objective on Wheaton Precious Metals from C$68.00 to C$75.00 in a research note on Wednesday, April 20th. Finally, StockNews.com assumed coverage on Wheaton Precious Metals in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.43.

Wheaton Precious Metals Price Performance

WPM opened at $33.99 on Wednesday. Wheaton Precious Metals Corp. has a 12 month low of $32.92 and a 12 month high of $51.90. The stock has a market capitalization of $15.35 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 4.74 and a beta of 0.57. The business has a fifty day moving average price of $38.91 and a 200 day moving average price of $42.69.

Wheaton Precious Metals (NYSE:WPMGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $307.24 million during the quarter, compared to analysts’ expectations of $313.27 million. Wheaton Precious Metals had a return on equity of 9.60% and a net margin of 63.33%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. On average, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.43 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 3rd. Stockholders of record on Friday, May 20th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 19th. This represents a $0.60 annualized dividend and a dividend yield of 1.77%. Wheaton Precious Metals’s dividend payout ratio is currently 35.93%.

Wheaton Precious Metals Company Profile

(Get Rating)

Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.

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Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

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