Cetera Investment Advisers Increases Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Cetera Investment Advisers increased its stake in Wheaton Precious Metals Corp. by 11.1% in the first quarter, owning a total of 85,239 shares valued at approximately $6.6 million.
• The company reported a 58.4% increase in revenue year-over-year, with earnings per share (EPS) coming in at $0.55, exceeding analysts' expectations.
• Wheaton Precious Metals recently declared a quarterly dividend of $0.165 per share, representing an annualized dividend yield of 0.7%.

Cetera Investment Advisers boosted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 11.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,239 shares of the company's stock after buying an additional 8,515 shares during the quarter. Cetera Investment Advisers' holdings in Wheaton Precious Metals were worth $6,617,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC increased its position in shares of Wheaton Precious Metals by 5.9% during the 4th quarter. FMR LLC now owns 15,529,219 shares of the company's stock valued at $873,995,000 after purchasing an additional 863,306 shares during the last quarter. Royal Bank of Canada increased its position in shares of Wheaton Precious Metals by 5.0% during the 4th quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock valued at $530,057,000 after purchasing an additional 447,702 shares during the last quarter. Capital International Investors purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $263,810,000. The Manufacturers Life Insurance Company increased its position in shares of Wheaton Precious Metals by 4.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,593,707 shares of the company's stock valued at $202,459,000 after purchasing an additional 137,477 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Wheaton Precious Metals by 54.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock valued at $181,227,000 after purchasing an additional 1,135,699 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WPM. Berenberg Bank boosted their price objective on Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, July 15th. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price target for the company. Finally, Royal Bank Of Canada upped their price target on 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. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $93.00.

Wheaton Precious Metals Stock Performance

WPM stock traded up $0.29 during mid-day trading on Wednesday, reaching $98.27. The company had a trading volume of 1,201,479 shares, compared to its average volume of 1,833,349. Wheaton Precious Metals Corp. has a fifty-two week low of $53.05 and a fifty-two week high of $98.55. The company has a market capitalization of $44.61 billion, a price-to-earnings ratio of 72.26, a price-to-earnings-growth ratio of 2.68 and a beta of 0.39. The firm has a fifty day simple moving average of $90.74 and a 200 day simple moving average of $79.93.

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

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 annualized dividend and a yield of 0.7%. Wheaton Precious Metals's payout ratio is 48.53%.

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.