Apella Capital LLC Takes Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Apella Capital LLC bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,985 shares of the company's stock, valued at approximately $223,000.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Wheaton Precious Metals in the fourth quarter worth $20,790,000. Sei Investments Co. grew its stake in shares of Wheaton Precious Metals by 25.7% during the 4th quarter. Sei Investments Co. now owns 40,769 shares of the company's stock valued at $2,293,000 after purchasing an additional 8,331 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Wheaton Precious Metals by 9.1% during the 4th quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company's stock valued at $22,442,000 after purchasing an additional 33,256 shares during the period. Gotham Asset Management LLC increased its position in shares of Wheaton Precious Metals by 83.8% during the 4th quarter. Gotham Asset Management LLC now owns 6,324 shares of the company's stock valued at $356,000 after purchasing an additional 2,884 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Wheaton Precious Metals by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 993,432 shares of the company's stock worth $55,889,000 after purchasing an additional 37,892 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WPM. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. Royal Bank of Canada boosted their price objective on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. UBS Group raised their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, CIBC lifted their price target on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals has an average rating of "Buy" and a consensus target price of $86.90.

Wheaton Precious Metals Stock Up 0.4%

WPM stock traded up $0.35 during mid-day trading on Monday, hitting $89.05. The company had a trading volume of 1,584,234 shares, compared to its average volume of 1,682,168. The company has a 50-day moving average price of $82.23 and a 200 day moving average price of $70.74. Wheaton Precious Metals Corp. has a 12-month low of $51.96 and a 12-month high of $95.23. The company has a market capitalization of $40.41 billion, a price-to-earnings ratio of 66.46, a P/E/G ratio of 1.91 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. The company had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm's revenue for the quarter was up 58.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. As a group, analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 48.53%.

Wheaton Precious Metals 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.