CWA Asset Management Group LLC Purchases New Position in Wheaton Precious Metals Corp. (NYSE:WPM)

CWA Asset Management Group LLC bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 136,590 shares of the company’s stock, valued at approximately $8,343,000.

Other large investors have also modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of Wheaton Precious Metals during the second quarter worth $31,000. Abich Financial Wealth Management LLC purchased a new position in Wheaton Precious Metals in the 2nd quarter valued at about $31,000. St. Johns Investment Management Company LLC purchased a new position in Wheaton Precious Metals in the third quarter valued at about $48,000. Sunbelt Securities Inc. acquired a new stake in Wheaton Precious Metals during the 2nd quarter valued at approximately $47,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Wheaton Precious Metals by 25.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after purchasing an additional 253 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

WPM opened at $64.89 on Friday. The company has a market capitalization of $29.44 billion, a P/E ratio of 51.50, a P/E/G ratio of 2.29 and a beta of 0.77. The firm’s fifty day moving average price is $62.79 and its two-hundred day moving average price is $58.57. Wheaton Precious Metals Corp. has a fifty-two week low of $38.57 and a fifty-two week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. During the same period in the previous year, the business earned $0.31 EPS. Wheaton Precious Metals’s revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.96%. Wheaton Precious Metals’s payout ratio is currently 49.21%.

Analysts Set New Price Targets

Several analysts recently issued reports on WPM shares. Jefferies Financial Group upped their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Raymond James upped their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. 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. Finally, TD Securities lifted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.88.

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.