Global Assets Advisory LLC Buys Shares of 8,400 Wheaton Precious Metals Corp. (NYSE:WPM)

Global Assets Advisory LLC bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,400 shares of the company's stock, valued at approximately $622,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WPM. Concurrent Investment Advisors LLC raised its holdings in shares of Wheaton Precious Metals by 8.1% during the fourth quarter. Concurrent Investment Advisors LLC now owns 4,492 shares of the company's stock valued at $253,000 after acquiring an additional 336 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Wheaton Precious Metals during the 4th quarter worth approximately $1,601,000. IFP Advisors Inc raised its stake in Wheaton Precious Metals by 172.5% during the 4th quarter. IFP Advisors Inc now owns 2,153 shares of the company's stock valued at $121,000 after purchasing an additional 1,363 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Wheaton Precious Metals by 9.1% in 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 purchasing an additional 33,256 shares in the last quarter. Finally, Sprott Inc. lifted its holdings in shares of Wheaton Precious Metals by 29.3% in the fourth quarter. Sprott Inc. now owns 993,447 shares of the company's stock valued at $55,925,000 after purchasing an additional 224,980 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

Shares of WPM traded down $2.43 during trading hours on Friday, hitting $87.82. 687,721 shares of the company were exchanged, compared to its average volume of 1,694,166. The company has a market cap of $39.86 billion, a PE ratio of 64.58, a PEG ratio of 2.73 and a beta of 0.46. The firm's 50 day moving average is $85.80 and its 200-day moving average is $73.32. Wheaton Precious Metals Corp. has a 52 week low of $51.96 and a 52 week high of $95.23.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. The firm 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 business earned $0.36 earnings per share. The company's revenue was up 58.4% on a year-over-year basis. As a group, equities analysts forecast 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. Investors of record on Wednesday, May 28th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 annualized dividend and a yield of 0.75%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 48.53%.

Analyst Ratings Changes

Several research firms recently weighed in on WPM. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday. Scotiabank upped their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a report on Monday, April 14th. CIBC raised their price target 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. 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. Finally, Raymond James Financial increased their target price on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $89.78.

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.