Banyan Capital Management Inc. Purchases Shares of 4,325 Wheaton Precious Metals Corp. $WPM

Banyan Capital Management Inc. purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,325 shares of the company’s stock, valued at approximately $484,000.

Several other hedge funds also recently modified their holdings of the stock. Nisa Investment Advisors LLC bought a new position in Wheaton Precious Metals during the third quarter worth $26,000. Delta Asset Management LLC TN acquired a new position in shares of Wheaton Precious Metals during the second quarter valued at about $27,000. Root Financial Partners LLC bought a new position in shares of Wheaton Precious Metals during the 3rd quarter worth about $29,000. City State Bank grew its stake in shares of Wheaton Precious Metals by 40.0% in the 2nd quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after buying an additional 160 shares during the period. Finally, Pacifica Partners Inc. increased its position in Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock valued at $51,000 after buying an additional 100 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

WPM has been the topic of several recent research reports. Bank of America increased their price target on Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Raymond James Financial upped their target price on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. CIBC lifted their price target on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Wheaton Precious Metals in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $136.00.

Wheaton Precious Metals Trading Down 2.3%

Shares of Wheaton Precious Metals stock opened at $152.73 on Friday. The company has a market capitalization of $69.35 billion, a P/E ratio of 69.42, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. The stock has a fifty day simple moving average of $122.12 and a 200 day simple moving average of $107.94. Wheaton Precious Metals Corp. has a 12-month low of $61.22 and a 12-month high of $160.36.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $476.26 million for the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The business’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. On average, analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio is presently 30.00%.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.