Belpointe Asset Management LLC Has $246,000 Stake in Wheaton Precious Metals Corp. $WPM

Key Points

• Belpointe Asset Management LLC has reduced its stake in Wheaton Precious Metals by 54.8%, now owning 2,742 shares valued at $246,000.
• Wheaton Precious Metals reported earnings of $0.63 per share, surpassing the consensus estimate of $0.58, with an impressive revenue growth of 68.2% compared to the previous year.
• The company declared a quarterly dividend of $0.165 per share, with a current dividend yield of 0.6%.

Belpointe Asset Management LLC trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 54.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,742 shares of the company's stock after selling 3,321 shares during the quarter. Belpointe Asset Management LLC's holdings in Wheaton Precious Metals were worth $246,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in Wheaton Precious Metals by 2.9% in the 1st quarter. Pacer Advisors Inc. now owns 4,144 shares of the company's stock valued at $322,000 after buying an additional 117 shares during the last quarter. Asahi Life Asset Management CO. LTD. raised its position in Wheaton Precious Metals by 2.8% in the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company's stock valued at $393,000 after buying an additional 140 shares during the last quarter. Avantax Advisory Services Inc. raised its position in Wheaton Precious Metals by 2.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company's stock valued at $523,000 after buying an additional 140 shares during the last quarter. Continuum Advisory LLC raised its position in Wheaton Precious Metals by 9.0% in the 1st quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock valued at $142,000 after buying an additional 151 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in Wheaton Precious Metals by 3.2% in the 2nd quarter. HB Wealth Management LLC now owns 5,068 shares of the company's stock valued at $455,000 after buying an additional 156 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

WPM stock opened at $105.44 on Friday. The company has a market capitalization of $47.87 billion, a price-to-earnings ratio of 60.95, a PEG ratio of 2.81 and a beta of 0.41. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $114.00. The stock has a fifty day moving average of $102.44 and a 200-day moving average of $91.45.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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%.The firm's quarterly revenue was up 68.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 EPS. Equities analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared 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. The ex-dividend date was Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals's dividend payout ratio is presently 38.15%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WPM shares. Berenberg Bank increased their price target 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. Raymond James Financial increased their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the company an "outperform" rating in a research report on Friday. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, September 8th. UBS Group increased their price target on Wheaton Precious Metals from $106.00 to $118.00 and gave the company a "neutral" rating in a research report on Friday, September 19th. Finally, Scotiabank increased their price target on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $114.50.

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.

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