Wheaton Precious Metals Corp. $WPM Shares Bought by Synergy Asset Management LLC

Synergy Asset Management LLC boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 42.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,354 shares of the company’s stock after buying an additional 1,304 shares during the period. Synergy Asset Management LLC’s holdings in Wheaton Precious Metals were worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in WPM. Bulwark Capital Corp acquired a new position in Wheaton Precious Metals during the 2nd quarter valued at about $27,000. NBT Bank N A NY increased its position in Wheaton Precious Metals by 129.3% during the 1st quarter. NBT Bank N A NY now owns 415 shares of the company’s stock valued at $32,000 after buying an additional 234 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in Wheaton Precious Metals during the 1st quarter valued at about $38,000. Banque Cantonale Vaudoise acquired a new position in Wheaton Precious Metals during the 1st quarter valued at about $49,000. Finally, Princeton Global Asset Management LLC acquired a new position in Wheaton Precious Metals during the 1st quarter valued at about $52,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WPM has been the topic of a number of research reports. UBS Group increased their price objective on Wheaton Precious Metals from $106.00 to $118.00 and gave the company a “neutral” rating in a report on Friday, September 19th. National Bankshares reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. BMO Capital Markets reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. Finally, Scotiabank increased their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.11.

Wheaton Precious Metals Stock Down 1.6%

Shares of WPM opened at $109.71 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $55.47 and a 52 week high of $114.00. The company has a market capitalization of $49.80 billion, a price-to-earnings ratio of 63.41, a PEG ratio of 2.99 and a beta of 0.41. The stock’s 50-day moving average price is $100.63 and its 200-day moving average price is $90.02.

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 for 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 for the quarter was up 68.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.165 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is currently 38.15%.

Wheaton Precious Metals Company Profile

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.