Exchange Traded Concepts LLC Buys 52,190 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Exchange Traded Concepts LLC boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 5,413.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,154 shares of the company's stock after acquiring an additional 52,190 shares during the quarter. Exchange Traded Concepts LLC's holdings in Wheaton Precious Metals were worth $4,126,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Wheaton Precious Metals during the 4th quarter valued at $20,790,000. Sei Investments Co. increased its position in Wheaton Precious Metals by 25.7% during the fourth quarter. Sei Investments Co. now owns 40,769 shares of the company's stock worth $2,293,000 after buying an additional 8,331 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Wheaton Precious Metals by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company's stock valued at $22,442,000 after buying an additional 33,256 shares in the last quarter. Gotham Asset Management LLC raised its holdings in Wheaton Precious Metals by 83.8% during the fourth quarter. Gotham Asset Management LLC now owns 6,324 shares of the company's stock valued at $356,000 after buying an additional 2,884 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Wheaton Precious Metals by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 993,432 shares of the company's stock worth $55,889,000 after buying an additional 37,892 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Raymond James increased their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. Scotiabank upped their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a report on Monday, April 14th. CIBC lifted their target price on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a report on Friday, May 9th. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $86.90.

Wheaton Precious Metals Stock Down 0.7%

Wheaton Precious Metals stock traded down $0.62 during trading hours on Tuesday, hitting $91.27. The stock had a trading volume of 1,250,681 shares, compared to its average volume of 1,864,789. The company has a 50-day moving average of $84.25 and a two-hundred day moving average of $71.91. Wheaton Precious Metals Corp. has a fifty-two week low of $51.96 and a fifty-two week high of $95.23. The company has a market cap of $41.42 billion, a PE ratio of 68.11, a price-to-earnings-growth ratio of 1.91 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business had revenue of $470.41 million during the quarter, compared to analyst estimates of $446.33 million. During the same period in the prior year, the company posted $0.36 earnings per share. Wheaton Precious Metals's revenue was up 58.4% on a year-over-year basis. As a group, analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Wednesday, May 28th. 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.