Checchi Capital Advisers LLC Buys Shares of 2,492 Wheaton Precious Metals Corp. $WPM

Key Points

• Checchi Capital Advisers LLC purchased 2,492 shares of Wheaton Precious Metals Corp., valued at approximately $224,000, during the second quarter.
• Wheaton Precious Metals reported a 68.2% increase in revenue year-over-year, reaching $503.22 million, and topped earnings estimates with $0.63 EPS.
• The company recently announced a quarterly dividend of $0.165 per share, which reflects a 0.6% yield based on an annualized dividend of $0.66.

Checchi Capital Advisers LLC bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,492 shares of the company's stock, valued at approximately $224,000.

A number of other institutional investors have also modified their holdings of the company. LGT Fund Management Co Ltd. bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at about $225,000. Synergy Asset Management LLC boosted its holdings in shares of Wheaton Precious Metals by 42.8% in the 2nd quarter. Synergy Asset Management LLC now owns 4,354 shares of the company's stock valued at $391,000 after buying an additional 1,304 shares in the last quarter. J. Safra Sarasin Holding AG boosted its holdings in shares of Wheaton Precious Metals by 160.0% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 49,435 shares of the company's stock valued at $4,439,000 after buying an additional 30,420 shares in the last quarter. ASR Vermogensbeheer N.V. boosted its holdings in shares of Wheaton Precious Metals by 0.9% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 22,821 shares of the company's stock valued at $2,048,000 after buying an additional 200 shares in the last quarter. Finally, Parsons Capital Management Inc. RI boosted its holdings in shares of Wheaton Precious Metals by 3.0% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 53,509 shares of the company's stock valued at $4,805,000 after buying an additional 1,583 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Down 1.3%

WPM stock opened at $108.34 on Wednesday. The firm has a 50 day moving average of $101.61 and a 200 day moving average of $90.83. The stock has a market capitalization of $49.18 billion, a PE ratio of 62.62, a price-to-earnings-growth ratio of 2.95 and a beta of 0.41. Wheaton Precious Metals Corp. has a 52 week low of $55.47 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The company had revenue of $503.22 million during the quarter, compared to analysts' expectations of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. Wheaton Precious Metals's revenue for the quarter was up 68.2% on a year-over-year basis. During the same period last year, the business earned $0.33 EPS. On average, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

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

Analyst Upgrades and Downgrades

WPM has been the topic of a number of recent analyst reports. CIBC raised their price target 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. Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, September 8th. Scotiabank raised their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Finally, Raymond James Financial lifted their target price on shares of Wheaton Precious Metals from $112.00 to $114.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $109.75.

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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