LPL Financial LLC Purchases 3,659 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Posted by Defense World Staff on May 19th, 2023

LPL Financial LLC raised its position in Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) by 4.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 89,639 shares of the company’s stock after acquiring an additional 3,659 shares during the period. LPL Financial LLC’s holdings in Wheaton Precious Metals were worth $3,503,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake in Wheaton Precious Metals by 6.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 43,523 shares of the company’s stock valued at $1,701,000 after acquiring an additional 2,772 shares in the last quarter. Savant Capital LLC bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth approximately $205,000. Financial Sense Advisors Inc. raised its stake in shares of Wheaton Precious Metals by 47.2% during the 4th quarter. Financial Sense Advisors Inc. now owns 50,123 shares of the company’s stock worth $1,959,000 after purchasing an additional 16,082 shares in the last quarter. Glass Jacobson Investment Advisors llc bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth approximately $30,000. Finally, Arete Wealth Advisors LLC raised its stake in shares of Wheaton Precious Metals by 4.0% during the 4th quarter. Arete Wealth Advisors LLC now owns 8,095 shares of the company’s stock worth $316,366,650,000 after purchasing an additional 308 shares in the last quarter. Institutional investors own 57.01% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $47.85 on Friday. The stock’s fifty day moving average price is $48.66 and its two-hundred day moving average price is $43.35. Wheaton Precious Metals Corp. has a one year low of $28.62 and a one year high of $52.76. The firm has a market cap of $21.64 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 8.47 and a beta of 0.58.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last issued its quarterly earnings data on Friday, May 5th. The company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. Wheaton Precious Metals had a return on equity of 6.81% and a net margin of 64.08%. The firm had revenue of $214.00 million for the quarter, compared to analyst estimates of $237.87 million. During the same period in the prior year, the firm posted $0.35 EPS. The company’s revenue for the quarter was down 30.3% on a year-over-year basis. On average, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.17 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, May 18th. Wheaton Precious Metals’s dividend payout ratio is 43.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WPM shares. TD Securities upped their price objective on Wheaton Precious Metals from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, May 8th. The Goldman Sachs Group cut Wheaton Precious Metals from a “buy” rating to a “neutral” rating in a research note on Thursday, April 20th. Scotiabank started coverage on Wheaton Precious Metals in a research note on Wednesday, April 12th. They set a “sector outperform” rating and a $60.00 price objective on the stock. Barclays upped their price objective on Wheaton Precious Metals from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, April 21st. Finally, National Bank Financial decreased their target price on Wheaton Precious Metals from C$70.00 to C$68.00 in a report on Tuesday, February 14th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $56.33.

About Wheaton Precious Metals

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Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.