Princeton Global Asset Management LLC Makes New Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Princeton Global Asset Management LLC purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 665 shares of the company’s stock, valued at approximately $52,000.

A number of other large investors have also bought and sold shares of the stock. First Affirmative Financial Network acquired a new stake in Wheaton Precious Metals in the first quarter worth $279,000. Wealth Alliance Advisory Group LLC acquired a new stake in Wheaton Precious Metals in the first quarter worth $235,000. Veracity Capital LLC grew its holdings in Wheaton Precious Metals by 3.4% in the first quarter. Veracity Capital LLC now owns 7,326 shares of the company’s stock worth $569,000 after purchasing an additional 244 shares during the period. Apella Capital LLC acquired a new stake in Wheaton Precious Metals in the first quarter worth $223,000. Finally, Merit Financial Group LLC grew its holdings in Wheaton Precious Metals by 5.2% in the first quarter. Merit Financial Group LLC now owns 5,069 shares of the company’s stock worth $394,000 after purchasing an additional 251 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on WPM. Royal Bank of Canada raised their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a “sector perform” rating in a report on Wednesday. Raymond James lifted their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, April 15th. Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a report on Monday, April 14th. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a report on Wednesday, April 16th. They set an “outperform” rating and a $129.00 price objective for the company. Finally, CIBC lifted their price objective on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an “outperformer” rating in a report on Friday, May 9th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $86.90.

Wheaton Precious Metals Trading Down 3.1%

Shares of NYSE:WPM opened at $88.71 on Friday. The company has a 50 day moving average of $82.23 and a 200 day moving average of $70.69. The stock has a market cap of $40.26 billion, a P/E ratio of 66.20, a P/E/G ratio of 1.91 and a beta of 0.46. Wheaton Precious Metals Corp. has a 12 month low of $51.96 and a 12 month high of $95.23.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. The company had revenue of $470.41 million during the quarter, compared to analysts’ expectations of $446.33 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. Wheaton Precious Metals’s revenue for the quarter was up 58.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, equities analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be paid a dividend of $0.165 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.66 annualized dividend and a yield of 0.74%. Wheaton Precious Metals’s dividend payout ratio is currently 48.53%.

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.