Altfest L J & Co. Inc. Has $1.72 Million Stake in Wheaton Precious Metals Corp. $WPM

Altfest L J & Co. Inc. raised its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 55.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,340 shares of the company’s stock after purchasing an additional 5,446 shares during the period. Altfest L J & Co. Inc.’s holdings in Wheaton Precious Metals were worth $1,716,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bulwark Capital Corp bought a new position in shares of Wheaton Precious Metals during the second quarter worth about $27,000. Delta Asset Management LLC TN acquired a new stake in Wheaton Precious Metals during the 2nd quarter valued at approximately $27,000. Pacifica Partners Inc. raised its holdings in Wheaton Precious Metals by 27.8% during the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares during the last quarter. City State Bank raised its holdings in Wheaton Precious Metals by 40.0% during the 2nd quarter. City State Bank now owns 560 shares of the company’s stock worth $50,000 after purchasing an additional 160 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new position in shares of Wheaton Precious Metals in the 3rd quarter worth approximately $73,000. Institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Raymond James Financial increased their price objective on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. UBS Group increased their price target on Wheaton Precious Metals from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, December 1st. Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th. Zacks Research lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.78.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $117.69 on Friday. Wheaton Precious Metals Corp. has a one year low of $55.51 and a one year high of $124.30. The company has a market cap of $53.43 billion, a PE ratio of 53.50, a P/E/G ratio of 1.40 and a beta of 0.54. The stock has a 50-day moving average of $108.18 and a 200-day moving average of $101.80.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. The business had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.The company’s quarterly revenue was up 54.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. Analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were paid 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 was Thursday, November 20th. Wheaton Precious Metals’s payout ratio is 30.00%.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.