GAMMA Investing LLC Boosts Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

GAMMA Investing LLC increased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 7,695.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,670 shares of the company's stock after buying an additional 55,943 shares during the period. GAMMA Investing LLC's holdings in Wheaton Precious Metals were worth $4,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in WPM. Van ECK Associates Corp boosted its stake in Wheaton Precious Metals by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock valued at $1,154,843,000 after buying an additional 1,231,999 shares in the last quarter. Vanguard Group Inc. lifted its stake in Wheaton Precious Metals by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock valued at $994,733,000 after purchasing an additional 281,123 shares during the last quarter. FMR LLC lifted its stake in Wheaton Precious Metals by 5.9% in the 4th quarter. FMR LLC now owns 15,529,219 shares of the company's stock valued at $873,995,000 after purchasing an additional 863,306 shares during the last quarter. Royal Bank of Canada boosted its position in Wheaton Precious Metals by 5.0% in the fourth quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock valued at $530,057,000 after buying an additional 447,702 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $472,648,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Price Performance

NYSE WPM traded up $1.12 during trading on Thursday, reaching $90.28. The company's stock had a trading volume of 1,945,171 shares, compared to its average volume of 1,687,127. The firm has a fifty day moving average of $83.40 and a 200 day moving average of $71.37. The stock has a market capitalization of $40.97 billion, a PE ratio of 67.37, a P/E/G ratio of 1.91 and a beta of 0.46. Wheaton Precious Metals Corp. has a one year low of $51.96 and a one year high of $95.23.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $470.41 million during the quarter, compared to analysts' expectations of $446.33 million. During the same quarter in the prior year, the company earned $0.36 EPS. The firm's revenue was up 58.4% on a year-over-year basis. Research 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 company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio is 48.53%.

Analysts Set New Price Targets

WPM has been the subject of a number of recent research reports. Royal Bank of Canada upped their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price objective for the company. CIBC raised their price objective on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. UBS Group boosted their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Wheaton Precious Metals currently has an average rating of "Buy" and an average target price of $86.90.

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.