IFP Advisors Inc Buys 711 Shares of Wheaton Precious Metals Corp. $WPM

IFP Advisors Inc increased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 35.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,736 shares of the company’s stock after purchasing an additional 711 shares during the quarter. IFP Advisors Inc’s holdings in Wheaton Precious Metals were worth $246,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bulwark Capital Corp bought a new stake in Wheaton Precious Metals during the 2nd quarter valued at $27,000. NBT Bank N A NY lifted its stake in shares of Wheaton Precious Metals by 129.3% during the 1st quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after purchasing an additional 234 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in Wheaton Precious Metals during the first quarter valued at about $38,000. Banque Cantonale Vaudoise bought a new stake in Wheaton Precious Metals during the first quarter valued at about $49,000. Finally, Penserra Capital Management LLC grew its stake in Wheaton Precious Metals by 1,812.8% in the first quarter. Penserra Capital Management LLC now owns 746 shares of the company’s stock valued at $57,000 after purchasing an additional 707 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WPM. Scotiabank raised their target price on shares of 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. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. Berenberg Bank raised their price objective on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. CIBC boosted their target price 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, National Bankshares reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.89.

Wheaton Precious Metals Trading Up 2.9%

WPM opened at $113.46 on Friday. The firm has a 50 day moving average of $103.41 and a two-hundred day moving average of $92.27. The firm has a market capitalization of $51.51 billion, a PE ratio of 65.58, a P/E/G ratio of 2.94 and a beta of 0.41. Wheaton Precious Metals Corp. has a 12-month low of $55.47 and a 12-month high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm had revenue of $503.22 million during the quarter, compared to analysts’ expectations of $424.23 million. During the same quarter last year, the company posted $0.33 earnings per share. The firm’s revenue was up 68.2% compared to the same quarter last year. As a group, analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 21st. Wheaton Precious Metals’s payout ratio is 38.15%.

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.