Foundations Investment Advisors LLC Acquires New Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Foundations Investment Advisors LLC has acquired 3,155 shares of Wheaton Precious Metals Corp., valued at approximately $245,000, marking a significant new investment for the firm.
• Wheaton Precious Metals reported a 58.4% increase in revenue compared to the same quarter last year, with earnings per share at $0.55, surpassing the expected $0.50.
• The company's stock has varying price targets from analysts, with a consensus average price target set at $93.00, while many recommend it as a "buy."

Foundations Investment Advisors LLC bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,155 shares of the company's stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Sei Investments Co. increased its position in shares of Wheaton Precious Metals by 25.7% during the fourth quarter. Sei Investments Co. now owns 40,769 shares of the company's stock valued at $2,293,000 after acquiring an additional 8,331 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in Wheaton Precious Metals by 4.4% in the 4th quarter. Orion Portfolio Solutions LLC now owns 6,120 shares of the company's stock valued at $344,000 after acquiring an additional 258 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $495,000. Geode Capital Management LLC grew its holdings in shares of Wheaton Precious Metals by 33.1% in the fourth quarter. Geode Capital Management LLC now owns 2,664,542 shares of the company's stock valued at $151,134,000 after purchasing an additional 661,913 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Wheaton Precious Metals by 494.9% in the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after purchasing an additional 579 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Up 4.1%

Shares of Wheaton Precious Metals stock traded up $3.75 during midday trading on Monday, hitting $95.85. The company's stock had a trading volume of 1,545,851 shares, compared to its average volume of 1,831,669. The firm has a market capitalization of $43.51 billion, a P/E ratio of 70.48, a PEG ratio of 2.58 and a beta of 0.39. Wheaton Precious Metals Corp. has a 1-year low of $53.05 and a 1-year high of $96.83. The stock has a 50-day simple moving average of $90.31 and a 200-day simple moving average of $79.53.

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

Wheaton Precious Metals Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on WPM shares. Royal Bank Of Canada increased their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, July 15th. Berenberg Bank boosted 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. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 target price on the stock. Finally, Scotiabank boosted their price target 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. One equities 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 company. According to data from MarketBeat.com, Wheaton Precious Metals has an average rating of "Buy" and a consensus target price of $93.00.

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.