Belpointe Asset Management LLC Buys Shares of 6,063 Wheaton Precious Metals Corp. $WPM

Key Points

• Belpointe Asset Management LLC acquired 6,063 shares of Wheaton Precious Metals Corp. valued at approximately $469,000 in the first quarter, marking their entry into the investment.
• Institutional investors hold 70.34% of Wheaton Precious Metals’ stock, with significant increases in holdings from firms like Mackenzie Financial Corp. and the Canada Pension Plan Investment Board.
• Wheaton Precious Metals reported a quarterly earnings of $0.63 EPS, exceeding analysts' expectations, with a revenue increase of 68.2% year-over-year to $503.22 million.

Belpointe Asset Management LLC acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,063 shares of the company's stock, valued at approximately $469,000.

A number of other large investors have also made changes to their positions in WPM. Mackenzie Financial Corp increased its position in shares of Wheaton Precious Metals by 54.4% in the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock valued at $181,227,000 after buying an additional 1,135,699 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Wheaton Precious Metals by 57.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company's stock valued at $162,811,000 after buying an additional 766,947 shares in the last quarter. Amundi increased its position in shares of Wheaton Precious Metals by 33.2% in the 1st quarter. Amundi now owns 2,745,947 shares of the company's stock valued at $215,557,000 after buying an additional 683,674 shares in the last quarter. Perpetual Ltd bought a new stake in shares of Wheaton Precious Metals in the 1st quarter valued at $50,430,000. Finally, Nuveen LLC bought a new stake in shares of Wheaton Precious Metals in the 1st quarter valued at $36,885,000. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $106.79 on Friday. The firm has a 50-day moving average of $95.90 and a 200-day moving average of $86.55. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $108.67. The company has a market cap of $48.48 billion, a price-to-earnings ratio of 61.73, a P/E/G ratio of 2.95 and a beta of 0.42.

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

Wheaton Precious Metals Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on WPM. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, September 8th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Royal Bank Of Canada upped their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Scotiabank upped their target price on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $101.44.

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.

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