Summit Financial LLC Purchases 27,423 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Summit Financial LLC raised its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 8.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 371,574 shares of the company’s stock after acquiring an additional 27,423 shares during the quarter. Wheaton Precious Metals makes up approximately 0.7% of Summit Financial LLC’s portfolio, making the stock its 20th biggest position. Summit Financial LLC’s holdings in Wheaton Precious Metals were worth $20,897,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cerity Partners LLC increased its holdings in shares of Wheaton Precious Metals by 31.3% during the third quarter. Cerity Partners LLC now owns 17,290 shares of the company’s stock valued at $1,056,000 after acquiring an additional 4,124 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in Wheaton Precious Metals during the 3rd quarter worth approximately $185,000. Captrust Financial Advisors increased its stake in Wheaton Precious Metals by 3.2% during the 3rd quarter. Captrust Financial Advisors now owns 43,718 shares of the company’s stock valued at $2,670,000 after purchasing an additional 1,362 shares in the last quarter. Flow Traders U.S. LLC purchased a new position in shares of Wheaton Precious Metals in the third quarter worth $523,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Wheaton Precious Metals in the third quarter worth $5,253,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $76.86 on Monday. The firm has a market capitalization of $34.87 billion, a P/E ratio of 57.36, a PEG ratio of 1.91 and a beta of 0.77. The stock has a 50-day simple moving average of $68.44 and a two-hundred day simple moving average of $63.81. Wheaton Precious Metals Corp. has a fifty-two week low of $47.02 and a fifty-two week high of $80.00.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company had revenue of $380.52 million for the quarter, compared to analysts’ expectations of $395.74 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. The firm’s revenue was up 21.4% compared to the same quarter last year. As a group, analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.86%. Wheaton Precious Metals’s dividend payout ratio is 56.90%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Scotiabank upped their target price on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Monday, March 17th. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $72.44.

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.