Brookstone Capital Management Buys 2,452 Shares of Wheaton Precious Metals Corp. $WPM

Brookstone Capital Management increased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 48.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,494 shares of the company’s stock after purchasing an additional 2,452 shares during the period. Brookstone Capital Management’s holdings in Wheaton Precious Metals were worth $673,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in WPM. Spire Wealth Management lifted its holdings in Wheaton Precious Metals by 56.4% in the 1st quarter. Spire Wealth Management now owns 8,877 shares of the company’s stock worth $689,000 after purchasing an additional 3,200 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Wheaton Precious Metals by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,200 shares of the company’s stock worth $171,000 after purchasing an additional 1,100 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Wheaton Precious Metals by 5.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company’s stock worth $419,000 after purchasing an additional 297 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Wheaton Precious Metals by 37.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company’s stock worth $630,000 after purchasing an additional 2,208 shares in the last quarter. Finally, Smith Salley Wealth Management purchased a new position in Wheaton Precious Metals in the 1st quarter worth approximately $201,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BMO Capital Markets reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. UBS Group upped their price objective on Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. CIBC increased their target price on Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Bank of America increased their target price on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Berenberg Bank increased their target price on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $119.00.

Wheaton Precious Metals Stock Down 0.1%

Shares of WPM opened at $98.09 on Monday. The company has a market cap of $44.53 billion, a PE ratio of 56.70, a P/E/G ratio of 1.75 and a beta of 0.41. The business has a fifty day moving average of $103.84 and a 200 day moving average of $93.62. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $114.36.

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

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a $0.165 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 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.