Polar Asset Management Partners Inc. Invests $685,000 in Wheaton Precious Metals Corp. (NYSE:WPM)

Polar Asset Management Partners Inc. bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, according to its most recent filing with the SEC. The fund bought 11,208 shares of the company’s stock, valued at approximately $685,000.

A number of other hedge funds also recently made changes to their positions in WPM. Ridgewood Investments LLC purchased a new position in shares of Wheaton Precious Metals in the second quarter worth about $31,000. Abich Financial Wealth Management LLC bought a new position in Wheaton Precious Metals in the 2nd quarter worth approximately $31,000. Sunbelt Securities Inc. purchased a new position in Wheaton Precious Metals in the 2nd quarter valued at approximately $47,000. St. Johns Investment Management Company LLC purchased a new position in shares of Wheaton Precious Metals in the third quarter valued at $48,000. Finally, First Horizon Advisors Inc. bought a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at $67,000. 70.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WPM has been the topic of several analyst reports. Scotiabank upped their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Raymond James increased their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. TD Securities raised their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, UBS Group initiated coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Stock Down 2.5 %

Shares of NYSE:WPM opened at $61.33 on Friday. The stock has a market cap of $27.82 billion, a PE ratio of 45.77, a PEG ratio of 1.77 and a beta of 0.75. The company’s fifty day moving average is $62.89 and its 200 day moving average is $59.58. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter last year, the company earned $0.27 EPS. Sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Thursday, November 21st. Wheaton Precious Metals’s payout ratio is 46.27%.

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.