Fruth Investment Management Takes Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Fruth Investment Management has acquired 3,350 shares of Wheaton Precious Metals Corp. for approximately $260,000 in the first quarter.
• Institutional investors collectively own 70.34% of the company’s stock, indicating significant confidence in Wheaton Precious Metals.
• Wheaton Precious Metals reported an impressive 68.2% year-over-year revenue increase for the last quarter, with a net margin of 47.46%.

Fruth Investment Management acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,350 shares of the company's stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. grew its position in shares of Wheaton Precious Metals by 2.9% in the first quarter. Pacer Advisors Inc. now owns 4,144 shares of the company's stock valued at $322,000 after purchasing an additional 117 shares during the period. Asahi Life Asset Management CO. LTD. grew its position in shares of Wheaton Precious Metals by 2.8% in the first quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company's stock valued at $393,000 after purchasing an additional 140 shares during the period. Avantax Advisory Services Inc. grew its position in shares of Wheaton Precious Metals by 2.1% in the first quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company's stock valued at $523,000 after purchasing an additional 140 shares during the period. Continuum Advisory LLC boosted its holdings in Wheaton Precious Metals by 9.0% in the first quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock valued at $142,000 after acquiring an additional 151 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Wheaton Precious Metals by 2.9% in the first quarter. Allworth Financial LP now owns 5,715 shares of the company's stock valued at $470,000 after acquiring an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. UBS Group set a $106.00 target price on Wheaton Precious Metals and gave the company a "neutral" rating in a report on Monday, August 11th. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Finally, Berenberg Bank lifted their target price on Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of "Moderate Buy" and an average price target of $97.33.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $107.27 on Friday. The stock's 50-day moving average is $95.58 and its two-hundred day moving average is $86.18. The stock has a market cap of $48.70 billion, a PE ratio of 62.01, a P/E/G ratio of 2.90 and a beta of 0.42. Wheaton Precious Metals Corp. has a 12 month low of $55.47 and a 12 month high of $107.37.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm's quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 21st. Wheaton Precious Metals's payout ratio is currently 38.15%.

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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