GAMMA Investing LLC Has $4.40 Million Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

GAMMA Investing LLC grew its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 7,695.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,670 shares of the company’s stock after purchasing an additional 55,943 shares during the period. GAMMA Investing LLC’s holdings in Wheaton Precious Metals were worth $4,399,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Promus Capital LLC acquired a new position in Wheaton Precious Metals during the fourth quarter valued at approximately $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $38,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $39,000. Headlands Technologies LLC grew its position in shares of Wheaton Precious Metals by 494.9% in the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock valued at $39,000 after purchasing an additional 579 shares during the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $41,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Down 1.1%

Shares of NYSE WPM opened at $88.12 on Wednesday. The firm’s 50-day simple moving average is $82.65 and its 200 day simple moving average is $71.04. The company has a market cap of $39.99 billion, a price-to-earnings ratio of 65.76, a price-to-earnings-growth ratio of 1.91 and a beta of 0.46. Wheaton Precious Metals Corp. has a 12-month low of $51.96 and a 12-month high of $95.23.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. During the same quarter in the prior year, the company earned $0.36 EPS. The firm’s quarterly revenue was up 58.4% on a year-over-year basis. On average, equities analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals’s dividend payout ratio is 48.53%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WPM. Raymond James raised their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Royal Bank of Canada raised their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research report on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 price target on the stock. UBS Group lifted their target price on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, Scotiabank lifted their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 14th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Wheaton Precious Metals has an average rating of “Buy” and an average target price of $86.90.

Wheaton Precious Metals Company 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.