Grimes & Company Inc. Purchases Shares of 2,845 Wheaton Precious Metals Corp. (NYSE:WPM)

Grimes & Company Inc. purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,845 shares of the company's stock, valued at approximately $221,000.

A number of other hedge funds also recently bought and sold shares of the stock. Fielder Capital Group LLC raised its position in Wheaton Precious Metals by 0.7% in the 4th quarter. Fielder Capital Group LLC now owns 24,701 shares of the company's stock valued at $1,389,000 after purchasing an additional 176 shares in the last quarter. Signaturefd LLC raised its position in shares of Wheaton Precious Metals by 1.5% during the 4th quarter. Signaturefd LLC now owns 11,877 shares of the company's stock worth $668,000 after acquiring an additional 178 shares in the last quarter. Veracity Capital LLC raised its position in shares of Wheaton Precious Metals by 3.4% during the 1st quarter. Veracity Capital LLC now owns 7,326 shares of the company's stock worth $569,000 after acquiring an additional 244 shares in the last quarter. Merit Financial Group LLC raised its position in shares of Wheaton Precious Metals by 5.2% during the 1st quarter. Merit Financial Group LLC now owns 5,069 shares of the company's stock worth $394,000 after acquiring an additional 251 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in shares of Wheaton Precious Metals by 4.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 6,120 shares of the company's stock worth $344,000 after acquiring an additional 258 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Trading Down 0.2%

Shares of WPM stock opened at $91.08 on Thursday. The business's 50 day moving average is $84.93 and its two-hundred day moving average is $72.18. Wheaton Precious Metals Corp. has a twelve month low of $51.96 and a twelve month high of $95.23. The company has a market capitalization of $41.34 billion, a P/E ratio of 66.97, a price-to-earnings-growth ratio of 2.85 and a beta of 0.46.

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 for the quarter, beating the consensus estimate 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 company had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. During the same period last year, the business posted $0.36 EPS. The company's revenue was up 58.4% on a year-over-year basis. As a group, equities analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

Wall Street Analysts Forecast Growth

WPM has been the topic of several research analyst reports. Raymond James Financial raised their target price on Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd. Scotiabank raised their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research note on Monday, April 14th. Finally, CIBC raised their price target on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target 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.

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