Alps Advisors Inc. Makes New Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Alps Advisors Inc. acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 1st quarter, Holdings Channel reports. The fund acquired 37,811 shares of the company’s stock, valued at approximately $2,935,000.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $20,790,000. Sei Investments Co. grew its stake in shares of Wheaton Precious Metals by 25.7% during the fourth quarter. Sei Investments Co. now owns 40,769 shares of the company’s stock valued at $2,293,000 after buying an additional 8,331 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Wheaton Precious Metals by 37.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company’s stock valued at $630,000 after buying an additional 2,208 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Wheaton Precious Metals by 5.8% during the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company’s stock valued at $419,000 after buying an additional 297 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Wheaton Precious Metals during the first quarter valued at approximately $531,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $91.03 on Friday. The stock has a 50 day moving average price of $87.39 and a 200 day moving average price of $75.61. The firm has a market capitalization of $41.32 billion, a price-to-earnings ratio of 66.93, a PEG ratio of 2.64 and a beta of 0.46. Wheaton Precious Metals Corp. has a 52-week low of $53.05 and a 52-week high of $95.23.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. The business had revenue of $470.41 million for the quarter, compared to analysts’ expectations of $446.33 million. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. The business’s revenue for the quarter was up 58.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. Analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 annualized dividend and a yield of 0.73%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 48.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WPM shares. Scotiabank upped their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research note on Monday, April 14th. CIBC upped their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the company an “outperformer” rating in a research note on Friday, May 9th. Raymond James Financial upped their target price on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, April 15th. National Bankshares reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada boosted their price target on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $93.00.

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.