AlphaCore Capital LLC Takes Position in Wheaton Precious Metals Corp. $WPM

AlphaCore Capital LLC acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,668 shares of the company’s stock, valued at approximately $419,000.

Several other large investors have also bought and sold shares of the stock. Canada Pension Plan Investment Board increased its stake in shares of Wheaton Precious Metals by 57.6% in the first quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company’s stock valued at $162,811,000 after buying an additional 766,947 shares during the period. Amundi boosted its holdings in Wheaton Precious Metals by 33.2% in the first quarter. Amundi now owns 2,745,947 shares of the company’s stock valued at $215,557,000 after acquiring an additional 683,674 shares during the last quarter. Geode Capital Management LLC increased its position in Wheaton Precious Metals by 20.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,653,717 shares of the company’s stock valued at $332,793,000 after purchasing an additional 622,003 shares during the period. Vanguard Group Inc. raised its holdings in Wheaton Precious Metals by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 18,554,651 shares of the company’s stock worth $1,668,582,000 after purchasing an additional 557,793 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Wheaton Precious Metals by 10.3% in the 2nd quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock worth $460,736,000 after purchasing an additional 478,236 shares during the period. 70.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WPM has been the subject of several recent analyst reports. Berenberg Bank increased their price objective on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Wednesday, November 19th. UBS Group lifted their price objective on Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. BMO Capital Markets reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Finally, Raymond James Financial lifted their target price on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.50.

Wheaton Precious Metals Trading Up 3.5%

Wheaton Precious Metals stock opened at $102.75 on Tuesday. The firm has a market capitalization of $46.65 billion, a price-to-earnings ratio of 59.39, a price-to-earnings-growth ratio of 1.67 and a beta of 0.38. The firm’s fifty day moving average price is $103.72 and its two-hundred day moving average price is $96.28. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business had revenue of $476.26 million during the quarter, compared to the consensus estimate of $495.53 million. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s quarterly revenue was up 54.5% on a year-over-year basis. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, November 20th. Wheaton Precious Metals’s payout ratio is currently 30.00%.

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.