4,398 Shares in Wheaton Precious Metals Corp. $WPM Acquired by Summit Wealth Partners LLC

Summit Wealth Partners LLC acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,398 shares of the company’s stock, valued at approximately $576,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. grew its position in shares of Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $28,000. Navalign LLC purchased a new stake in Wheaton Precious Metals in the fourth quarter worth about $30,000. Finally, Eagle Bay Advisors LLC purchased a new stake in Wheaton Precious Metals in the fourth quarter worth about $32,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $121.72 on Tuesday. The stock has a market capitalization of $55.27 billion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 2.31 and a beta of 0.51. Wheaton Precious Metals Corp. has a 1-year low of $85.59 and a 1-year high of $165.76. The business has a fifty day moving average price of $131.26 and a 200 day moving average price of $132.66.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The company had revenue of $901.47 million for the quarter, compared to the consensus estimate of $868.35 million. During the same quarter last year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 91.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 4.99 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 19.70%.

Analyst Ratings Changes

Several research analysts have issued reports on WPM shares. Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target for the company. TD Securities increased their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.64.

Wheaton Precious Metals Company 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.