Wheaton Precious Metals Corp. $WPM Stock Position Raised by U S Global Investors Inc.

U S Global Investors Inc. lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 3.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,489 shares of the company’s stock after purchasing an additional 4,679 shares during the period. Wheaton Precious Metals makes up about 1.9% of U S Global Investors Inc.’s holdings, making the stock its 13th biggest position. U S Global Investors Inc.’s holdings in Wheaton Precious Metals were worth $16,607,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Global Retirement Partners LLC boosted its position in shares of Wheaton Precious Metals by 82.7% in the 3rd quarter. Global Retirement Partners LLC now owns 1,672 shares of the company’s stock valued at $187,000 after purchasing an additional 757 shares during the period. Synergy Asset Management LLC lifted its stake in Wheaton Precious Metals by 197.7% during the third quarter. Synergy Asset Management LLC now owns 12,962 shares of the company’s stock valued at $1,450,000 after buying an additional 8,608 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Wheaton Precious Metals by 6.0% in the third quarter. Signaturefd LLC now owns 12,541 shares of the company’s stock worth $1,403,000 after buying an additional 710 shares during the period. Altfest L J & Co. Inc. increased its position in shares of Wheaton Precious Metals by 55.0% in the third quarter. Altfest L J & Co. Inc. now owns 15,340 shares of the company’s stock worth $1,716,000 after acquiring an additional 5,446 shares in the last quarter. Finally, Financial Consulate Inc. purchased a new position in shares of Wheaton Precious Metals in the third quarter worth approximately $73,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on WPM. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 23rd. CIBC raised their target price on Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Scotiabank reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Thursday, October 23rd. Finally, Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.78.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $117.69 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $55.51 and a twelve month high of $124.30. The firm has a market cap of $53.43 billion, a PE ratio of 53.50, a P/E/G ratio of 1.41 and a beta of 0.52. The firm’s 50 day moving average price is $108.18 and its two-hundred day moving average price is $101.87.

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

Wheaton Precious Metals Announces Dividend

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

Wheaton Precious Metals Company 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.