Focus Financial Network Inc. Purchases New Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Focus Financial Network Inc. acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,032 shares of the company's stock, valued at approximately $235,000.

A number of other hedge funds have also added to or reduced their stakes in WPM. Savant Capital LLC increased its stake in Wheaton Precious Metals by 18.3% in the fourth quarter. Savant Capital LLC now owns 10,548 shares of the company's stock valued at $593,000 after acquiring an additional 1,628 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Wheaton Precious Metals by 2.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 319,450 shares of the company's stock worth $17,965,000 after buying an additional 8,450 shares during the last quarter. Nations Financial Group Inc. IA ADV bought a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $202,000. Allworth Financial LP grew its stake in shares of Wheaton Precious Metals by 411.9% during the fourth quarter. Allworth Financial LP now owns 5,554 shares of the company's stock worth $328,000 after buying an additional 4,469 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Wheaton Precious Metals by 11.8% during the fourth quarter. CIBC Asset Management Inc now owns 2,541,133 shares of the company's stock worth $144,356,000 after buying an additional 267,973 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Trading Up 1.4%

Wheaton Precious Metals stock traded up $1.27 during trading hours on Friday, hitting $91.68. 1,955,173 shares of the stock traded hands, compared to its average volume of 1,695,022. Wheaton Precious Metals Corp. has a one year low of $51.96 and a one year high of $95.23. The company has a market cap of $41.61 billion, a PE ratio of 68.42, a PEG ratio of 1.91 and a beta of 0.46. The firm's 50-day moving average price is $83.83 and its two-hundred day moving average price is $71.64.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $470.41 million during the quarter, compared to the consensus estimate of $446.33 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The business's revenue was up 58.4% on a year-over-year basis. On average, sell-side analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a $0.165 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.72%. Wheaton Precious Metals's dividend payout ratio is currently 48.53%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd. Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research report on Wednesday, April 16th. They set an "outperform" rating and a $129.00 price target on the stock. CIBC upped their target price on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. Finally, 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. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Buy" and an average target price of $86.90.

Wheaton Precious Metals 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.