Guardian Partners Inc. Acquires New Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Guardian Partners Inc. has acquired a new stake in Wheaton Precious Metals Corp., buying 6,840 shares valued at approximately $538,000 in the 1st quarter.
• Wheaton Precious Metals reported strong quarterly earnings, with a 68.2% year-over-year revenue growth and earnings per share (EPS) of $0.63, surpassing analyst expectations.
• Institutional investors now hold 70.34% of Wheaton Precious Metals' stock, indicating strong confidence from major financial players.

Guardian Partners Inc. purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,840 shares of the company's stock, valued at approximately $538,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WPM. Northern Trust Corp lifted its stake in Wheaton Precious Metals by 24.2% in the 4th quarter. Northern Trust Corp now owns 348,264 shares of the company's stock valued at $19,586,000 after purchasing an additional 67,816 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Wheaton Precious Metals by 7.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,577 shares of the company's stock valued at $482,000 after purchasing an additional 606 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Wheaton Precious Metals by 70.9% during the fourth quarter. BNP Paribas Financial Markets now owns 36,268 shares of the company's stock valued at $2,040,000 after acquiring an additional 15,044 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Wheaton Precious Metals by 2.0% during the fourth quarter. Captrust Financial Advisors now owns 44,592 shares of the company's stock valued at $2,508,000 after acquiring an additional 874 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Wheaton Precious Metals by 95.2% during the fourth quarter. Cetera Investment Advisers now owns 76,724 shares of the company's stock valued at $4,315,000 after acquiring an additional 37,421 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on WPM. Scotiabank raised their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Berenberg Bank lifted their target price on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday. UBS Group set a $106.00 price objective on shares of Wheaton Precious Metals and gave the company a "neutral" rating in a report on Monday, August 11th. Finally, National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Wheaton Precious Metals has a consensus rating of "Moderate Buy" and an average price target of $101.44.

Wheaton Precious Metals Trading Down 0.5%

NYSE WPM traded down $0.58 during trading on Friday, hitting $106.79. The company had a trading volume of 1,890,374 shares, compared to its average volume of 1,857,441. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $108.67. The company has a market cap of $48.48 billion, a price-to-earnings ratio of 61.73, a price-to-earnings-growth ratio of 2.90 and a beta of 0.42. The company's fifty day moving average is $95.58 and its 200-day moving average is $86.18.

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 the consensus estimate of $0.58 by $0.05. The business had revenue of $503.22 million during the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company's revenue for the quarter was up 68.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is 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.