Laurel Wealth Advisors LLC Takes Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Laurel Wealth Advisors LLC acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 700 shares of the company’s stock, valued at approximately $39,000.

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $29,000. Abich Financial Wealth Management LLC purchased a new stake in Wheaton Precious Metals in the 2nd quarter valued at about $31,000. GAMMA Investing LLC acquired a new position in Wheaton Precious Metals in the fourth quarter valued at about $41,000. Sunbelt Securities Inc. purchased a new position in Wheaton Precious Metals during the second quarter worth about $47,000. Finally, St. Johns Investment Management Company LLC acquired a new stake in shares of Wheaton Precious Metals during the third quarter valued at about $48,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WPM has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. UBS Group initiated coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. TD Securities increased their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Price Performance

WPM stock opened at $58.12 on Thursday. The business’s 50-day moving average is $59.80 and its two-hundred day moving average is $60.38. The firm has a market capitalization of $26.37 billion, a P/E ratio of 43.37, a P/E/G ratio of 1.28 and a beta of 0.76. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter last year, the company earned $0.27 earnings per share. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.45 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

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.