Concurrent Investment Advisors LLC Has $370,000 Stake in Wheaton Precious Metals Corp. $WPM

Concurrent Investment Advisors LLC grew its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 14.7% in the second quarter, HoldingsChannel.com reports. The firm owned 4,123 shares of the company’s stock after purchasing an additional 528 shares during the period. Concurrent Investment Advisors LLC’s holdings in Wheaton Precious Metals were worth $370,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Apollon Wealth Management LLC grew its holdings in Wheaton Precious Metals by 10.5% during the second quarter. Apollon Wealth Management LLC now owns 13,131 shares of the company’s stock worth $1,179,000 after buying an additional 1,247 shares in the last quarter. Louisbourg Investments Inc. raised its position in Wheaton Precious Metals by 72.9% in the second quarter. Louisbourg Investments Inc. now owns 115,846 shares of the company’s stock worth $10,398,000 after acquiring an additional 48,852 shares during the period. JFS Wealth Advisors LLC boosted its stake in Wheaton Precious Metals by 1,000.0% in the second quarter. JFS Wealth Advisors LLC now owns 1,100 shares of the company’s stock valued at $99,000 after acquiring an additional 1,000 shares during the last quarter. Blue Trust Inc. grew its position in shares of Wheaton Precious Metals by 8.6% during the 2nd quarter. Blue Trust Inc. now owns 8,544 shares of the company’s stock valued at $767,000 after acquiring an additional 676 shares during the period. Finally, IFP Advisors Inc grew its position in shares of Wheaton Precious Metals by 35.1% during the 2nd quarter. IFP Advisors Inc now owns 2,736 shares of the company’s stock valued at $246,000 after acquiring an additional 711 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $104.68 on Friday. The business’s fifty day moving average is $103.49 and its 200 day moving average is $92.56. The firm has a market cap of $47.52 billion, a price-to-earnings ratio of 60.51, a PEG ratio of 2.79 and a beta of 0.41. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. During the same quarter last year, the company earned $0.33 EPS. The firm’s revenue was up 68.2% compared to the same quarter last year. Equities analysts predict 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, September 4th. Investors of record on Thursday, August 21st were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 21st. Wheaton Precious Metals’s dividend payout ratio is 38.15%.

Wall Street Analyst Weigh In

WPM has been the topic of a number of research reports. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. BMO Capital Markets restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Bank of America upped their price target on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday. CIBC increased their price target on Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, Scotiabank boosted their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average target price of $116.89.

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.