Hillsdale Investment Management Inc. Grows Stake in Wheaton Precious Metals Corp. $WPM

Hillsdale Investment Management Inc. increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,264 shares of the company’s stock after purchasing an additional 5,505 shares during the quarter. Wheaton Precious Metals makes up 1.2% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 14th biggest holding. Hillsdale Investment Management Inc.’s holdings in Wheaton Precious Metals were worth $44,784,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Concurrent Investment Advisors LLC boosted its position in shares of Wheaton Precious Metals by 1.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after acquiring an additional 78 shares during the last quarter. Gables Capital Management Inc. grew its stake in Wheaton Precious Metals by 7.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock valued at $127,000 after acquiring an additional 79 shares in the last quarter. Focus Financial Network Inc. increased its holdings in Wheaton Precious Metals by 2.5% in the 4th quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock valued at $388,000 after acquiring an additional 81 shares during the last quarter. Jamison Private Wealth Management Inc. increased its holdings in Wheaton Precious Metals by 1.7% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 5,375 shares of the company’s stock valued at $632,000 after acquiring an additional 92 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its holdings in Wheaton Precious Metals by 3.9% in the 4th quarter. Capital Investment Advisors LLC now owns 2,460 shares of the company’s stock valued at $289,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

WPM has been the topic of a number of research reports. UBS Group upgraded shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Friday, March 27th. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Scotiabank lifted their price target 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. Finally, TD Cowen lifted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Stock Up 2.1%

Shares of NYSE:WPM opened at $132.74 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $85.59 and a 52 week high of $165.76. The stock has a market capitalization of $60.28 billion, a P/E ratio of 33.52, a PEG ratio of 2.45 and a beta of 0.50. The firm has a fifty day simple moving average of $133.63 and a two-hundred day simple moving average of $130.61.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. During the same period in the prior year, the company earned $0.55 EPS. The business’s revenue was up 91.7% compared to the same quarter last year. On average, analysts expect that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is presently 19.70%.

About Wheaton Precious Metals

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.