Bridgewater Advisors Inc. Invests $242,000 in Wheaton Precious Metals Corp. (NYSE:WPM)

Bridgewater Advisors Inc. acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,955 shares of the company's stock, valued at approximately $242,000.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. increased its stake in shares of Wheaton Precious Metals by 77.4% in the first quarter. Whittier Trust Co. now owns 763 shares of the company's stock valued at $59,000 after purchasing an additional 333 shares during the period. Asahi Life Asset Management CO. LTD. raised its holdings 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 worth $393,000 after acquiring an additional 140 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Wheaton Precious Metals by 13.5% during the 1st quarter. SBI Securities Co. Ltd. now owns 4,767 shares of the company's stock worth $370,000 after purchasing an additional 568 shares during the period. Apollon Wealth Management LLC boosted its position in shares of Wheaton Precious Metals by 21.4% during the 1st quarter. Apollon Wealth Management LLC now owns 11,884 shares of the company's stock valued at $923,000 after acquiring an additional 2,098 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new position in Wheaton Precious Metals in the first quarter valued at about $257,000. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WPM. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Scotiabank upped their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research note on Monday, April 14th. Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Berenberg Bank raised their price target on Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, BMO Capital Markets began coverage on Wheaton Precious Metals in a research note on Wednesday, April 16th. They set an "outperform" rating and a $129.00 price target for the company. One equities research 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's stock. According to MarketBeat.com, Wheaton Precious Metals has an average rating of "Buy" and a consensus price target of $93.00.

Wheaton Precious Metals Stock Down 1.6%

Shares of WPM stock opened at $89.05 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $53.05 and a 52 week high of $95.23. The firm has a market capitalization of $40.42 billion, a PE ratio of 65.48, a P/E/G ratio of 2.60 and a beta of 0.46. The company has a 50 day moving average price of $87.88 and a 200-day moving average price of $76.54.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The firm had revenue of $470.41 million during the quarter, compared to analyst estimates of $446.33 million. During the same period last year, the firm posted $0.36 EPS. Wheaton Precious Metals's revenue was up 58.4% on a year-over-year basis. Analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was 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.

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