Canopy Partners LLC Purchases Shares of 2,537 Wheaton Precious Metals Corp. $WPM

Key Points

• Canopy Partners LLC acquired 2,537 shares of Wheaton Precious Metals Corp. valued at approximately $228,000 during the second quarter.
• Wheaton Precious Metals recently reported a quarterly earnings per share of $0.63, exceeding the consensus estimate of $0.58 and marking a significant increase in revenue compared to the previous year.
• Analysts maintain a consensus rating of "Moderate Buy" for Wheaton Precious Metals, with a target price of $109.75, reflecting positive outlooks from major investment firms.

Canopy Partners LLC purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,537 shares of the company's stock, valued at approximately $228,000.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. BMO Capital Markets restated an "outperform" rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Raymond James Financial lifted their target price on shares of Wheaton Precious Metals from $112.00 to $114.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, September 8th. Weiss Ratings restated a "buy (b-)" rating on shares of Wheaton Precious Metals in a report on Saturday, September 27th. Finally, CIBC lifted their target price on shares of Wheaton Precious Metals from $130.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.75.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $108.34 on Wednesday. The company's fifty day moving average price is $101.61 and its two-hundred day moving average price is $90.83. The firm has a market capitalization of $49.18 billion, a P/E ratio of 62.62, a P/E/G ratio of 2.95 and a beta of 0.41. Wheaton Precious Metals Corp. has a 12 month low of $55.47 and a 12 month high of $114.00.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its 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 net margin of 47.46% and a return on equity of 11.96%. The company's revenue was up 68.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. On average, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were given a $0.165 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals's payout ratio is presently 38.15%.

About Wheaton Precious Metals

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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