RMG Wealth Management LLC Purchases New Position in Wheaton Precious Metals Corp. $WPM

RMG Wealth Management LLC purchased a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, Holdings Channel reports. The fund purchased 1,200 shares of the company’s stock, valued at approximately $106,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bulwark Capital Corp purchased a new stake in Wheaton Precious Metals in the second quarter worth approximately $27,000. NBT Bank N A NY boosted its holdings in Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after purchasing an additional 234 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in Wheaton Precious Metals in the first quarter worth approximately $38,000. Banque Cantonale Vaudoise purchased a new stake in Wheaton Precious Metals in the first quarter worth approximately $49,000. Finally, Penserra Capital Management LLC boosted its holdings in Wheaton Precious Metals by 1,812.8% in the first quarter. Penserra Capital Management LLC now owns 746 shares of the company’s stock worth $57,000 after purchasing an additional 707 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $109.90 on Tuesday. The company’s fifty day simple moving average is $101.31 and its 200-day simple moving average is $90.70. The stock has a market capitalization of $49.89 billion, a PE ratio of 63.53, a P/E/G ratio of 2.94 and a beta of 0.41. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $114.00.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The business had revenue of $503.22 million for the quarter, compared to analysts’ expectations of $424.23 million. During the same quarter last year, the company posted $0.33 EPS. The company’s revenue was up 68.2% compared to the same quarter last year. As a group, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s payout ratio is 38.15%.

Analysts Set New Price Targets

WPM has been the topic of several research reports. Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Wheaton Precious Metals in a report on Saturday, September 27th. CIBC raised their target price on shares of Wheaton Precious Metals from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. Berenberg Bank lifted their price target on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, UBS Group lifted their price target on shares of Wheaton Precious Metals from $106.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

About Wheaton Precious Metals

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.