Eagle Global Advisors LLC Buys Shares of 2,910 Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Eagle Global Advisors LLC acquired 2,910 shares of Wheaton Precious Metals Corp., valued at approximately $226,000, during the first quarter.
• Wheaton Precious Metals reported $0.63 EPS for the last quarter, exceeding analysts' expectations, with revenue up 68.2% year-over-year.
• The company's quarterly dividend is set at $0.165 per share with an annualized yield of 0.7%, scheduled for payment on September 4th.

Eagle Global Advisors LLC bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,910 shares of the company's stock, valued at approximately $226,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Wheaton Precious Metals by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,996,858 shares of the company's stock valued at $1,396,556,000 after purchasing an additional 324,340 shares during the period. Royal Bank of Canada increased its position in 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 period. TD Asset Management Inc increased its position in Wheaton Precious Metals by 5.0% during the 1st quarter. TD Asset Management Inc now owns 7,512,351 shares of the company's stock valued at $582,876,000 after purchasing an additional 355,533 shares during the period. Capital International Investors purchased a new position in Wheaton Precious Metals during the 4th quarter valued at about $263,810,000. Finally, The Manufacturers Life Insurance Company increased its position in 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 period. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Stock Down 3.3%

WPM stock opened at $97.40 on Tuesday. The firm has a 50 day moving average of $91.65 and a 200 day moving average of $81.19. The stock has a market capitalization of $44.22 billion, a PE ratio of 56.30, a price-to-earnings-growth ratio of 2.81 and a beta of 0.39. Wheaton Precious Metals Corp. has a 52 week low of $55.47 and a 52 week high of $103.81.

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 12.12%. 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 will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 21st. Wheaton Precious Metals's payout ratio is presently 38.15%.

Wall Street Analysts Forecast Growth

WPM has been the topic of a number of research reports. Scotiabank raised their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research report on Monday, April 14th. Berenberg Bank lifted their price objective on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Raymond James Financial lifted their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. UBS Group set a $106.00 price objective on shares of Wheaton Precious Metals and gave the stock a "neutral" rating in a research report on Monday. Finally, Wall Street Zen downgraded shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of "Moderate Buy" and an average price target of $94.89.

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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